Eline Entertainment Group Inc (EEGI)

[Scumbag Fraudsters]

Soooooooooo?

Go take a look at ANAS! Their most-hyped MJ product was pure fiction! It didn’t exist.

I see no difference here. There are bogus PRs in pinkyland every day!

The SEC complaint filed in court last week against the owner and his cronies is an interesting read for anyone interested in penny stock fraud. It went on for years, but they were eventually busted.


From the SEC fraud complaint:

51. In early 2014, Barton knowingly caused Altematurals to issue a series of false and misleading press releases concerning the company’s purported entry into the medical marijuana industry, while he and Goode simultaneously sold unregistered shares of the company’s stock to the public. Barton knew that the press releases were false because he controlled the company.

52. On March 24, 2014, Barton drafted, and caused the company to issue, a press release announcing that the defunct mortgage servicing ?rm would be changing its name to Alternaturals and ‘‘will be releasing a product line consisting of hemp, medical marijuana, and many natural substances as alternatives to prescription drugs.” The press release noted that “several” of the “products harness the many positive properties of Cannabis or Hemp, more widely known as marijuana,” and that “some of these products contain THC, the active ingredient in marijuana that causes intoxication.”

53. The March 24 press release was false.
At that time, Altematurals was not developing any marijuana products.

54. On March 31, just a week later, Barton drafted and caused Altematurals to issue a press release announcing its “plan . . . to become the premier distribution company for the entire alternative healthcare product, and medical marijuana industries. ...the press release announced that the company “plans to begin releasing [its] products in the next 30-45 days,” including first “the alter ego of 5-hour energy with a marijuana spin, and a hemp nutritional bar that will come in THC and non-THC versions.”

55. All of these statements in the March 31 press release were false.
The company had no plans to become a distributor to marijuana dispensaries; the database described in the press release did not exist; and the company was not developing the products described.

56. On April 10, 2014, Barton prepared and caused Altematurals to issue another false and misleading press release.
This press release provided additional details on one of the marijuana-containing products that was referenced in the prior press release:

57. None of this information in the April 10 press release was true.
The product had not been formulated, the claims about the product’s efficacy were unfounded, and there were no plans to sell it in dispensaries.