Wednesday, April 15, 2015 10:43:11 AM
Hi, I just find out about this board and I thought I could maybe get you guys' opinion on this situation:
There's a group investors lead by David Weiner who buys publicly traded shell companies on the OTC to make reverse-mergers with private companies in financial difficulty. They invest money in these newly merged companies at a PPS well below market price and then the usual pump and dump occurs.
These companies are mainly in the weed business, but they also did the same thing with a few other companies not related to weed like, SLNN and AHRO.
Bloomberg and the NY Post made a few reports on them:
http://www.bloomberg.com/news/articles/2014-06-18/legal-pot-sets-off-penny-stock-frenzy
a series of article from the NY Post: http://nypost.com/2014/10/19/reefer-sadness-sec-sniffing-out-pot-companies-for-fraud/
http://nypost.com/2014/10/29/smelling-smoke-and-pulling-the-alarm-in-sec-pot-probe/
http://nypost.com/2014/12/12/sec-weed-wackers-sparked-growlife-fears/
Now these guys seem to have conducted the same scheme on SLNN (Saleen Automotive), but the media didn't report on then and some on the SLNN board assert that Saleen has nothing to do with this.
Now see below an image I made from the S1 of a few of these companies including SLNN. All the same investors are involved. Saleen had a lot of BS PR too. Some peopel even started rumors that there could be a partnership with Tesla.
Anyway, what do you guys think?
There's a group investors lead by David Weiner who buys publicly traded shell companies on the OTC to make reverse-mergers with private companies in financial difficulty. They invest money in these newly merged companies at a PPS well below market price and then the usual pump and dump occurs.
These companies are mainly in the weed business, but they also did the same thing with a few other companies not related to weed like, SLNN and AHRO.
Bloomberg and the NY Post made a few reports on them:
http://www.bloomberg.com/news/articles/2014-06-18/legal-pot-sets-off-penny-stock-frenzy
a series of article from the NY Post: http://nypost.com/2014/10/19/reefer-sadness-sec-sniffing-out-pot-companies-for-fraud/
http://nypost.com/2014/10/29/smelling-smoke-and-pulling-the-alarm-in-sec-pot-probe/
http://nypost.com/2014/12/12/sec-weed-wackers-sparked-growlife-fears/
Now these guys seem to have conducted the same scheme on SLNN (Saleen Automotive), but the media didn't report on then and some on the SLNN board assert that Saleen has nothing to do with this.
Now see below an image I made from the S1 of a few of these companies including SLNN. All the same investors are involved. Saleen had a lot of BS PR too. Some peopel even started rumors that there could be a partnership with Tesla.
Anyway, what do you guys think?
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