OMDA Oil and Gas, Inc. (OOAG)

[fAtnhapy]

In a nutshell this is what happened. Adam offered to do a 504 for Lanza. (504 allows a company to raise up to $1M a year by selling stock to a qualified investor). So Adam is to pay Lanza $1M in exchange for Omda stock. The stock price will be 70% of the lowest price it trades for in some time frame window. So Adam starts selling shares supposedly to raise the $1M and sells and sells and sells and beats the price down to nothing. So since the price he has to pay for the shares is now so low the number of shares is huge. He claims a majority shareholder position and tells Lanza I don't owe you anything because you don't control Omda, I do, and technically he's right.

Lanza not to be out crooked says fine you own Omda but I own all these wells you don't have title to. Adam wasn't happy to keep Omda and the $1M he sues Lanza for the assets. The suit gives him an excuse for where all the money is going. I'm guessing he did 3 or 4 504's while he had it. Would never account for where the money went.
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