Home > Boards > US OTC > Miscellaneous > McCusker Holdings Corp. (MHHC)

Now for some discussion of the new documents

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (9) | Next 10 | Previous | Next
janice shell Member Profile
Member Level 
Followed By 2,197
Posts 212,969
Boards Moderated 36
Alias Born 04/12/01
160x600 placeholder
janice shell Member Level  Thursday, 10/12/17 09:09:16 PM
Re: TheRealMrPirate post# 53674
Post # of 56939 
Now for some discussion of the new documents in the McCusker bankruptcy case.

First, let's take the declaration of his assets and debts:

The part about his meagre assets is largely self-explanatory, but this is interesting:

He's saying he owns NO publicly traded stock. Only stock in McCusker & Company, Inc, Service USA, Inc, McCusker Service Group, Inc, and McCusker West, Inc, which he characterizes as worthless.

How, exactly, does all that work? On 27 February 2017, ORRV, the public shell, filed an annual report at OTCMarkets:

In it, the company claimed that when the contemplated reverse merger was completed, the public shell would own the assets of McCusker Holding (no s) Corp. Yet it attached financial reports for McCusker & Company, Inc, and Service USA, Inc.

What's up with that? Will McCusker is currently stating he owns 100% of the stock in both of those companies, and that that stock is worthless.

In the same annual report from 27 February, McCusker stated that he owned 1 billion shares of ORRV:

Much later, on 10 July 2017, after Frank had been appointed CEO, ORRV's corporate charter was amended to memorialize Will's departure as an officer. BUT he remained as a director:

Note this specifically: he "remains as a Board Member of McCusker Holdings [with an s] Corp [ORRV, the public shell] with full voting rights.

So we may conclude that at that time--10 July--Will still owned at least 1 billion shares of ORRV stock.

And yet he now claims to own NO stock in ORRV. All of this is VERY material to ORRV itself, and to ORRV shareholders. And yet there've been no explanations at all. What, exactly, happened to that stock? Assuming anything did, and frankly I'm not at all sure we can assume that.

Now let's turn to McCusker's statement of financial affairs:

In it, he says:

When, exactly, did that happen? As you can see, the date of the transfer is unclear. In addition, what is "McCusker Service Group, Inc". How does it differ from Service USA, and why? Note that McCusker Holding (no s) Corp, presumably the Nevada company, was also supposedly sold by Will.

You can't, of course, say you've "sold" something unless you got some kind of consideration for it. Will claims his consideration was that ORRV then paid off the debt owed by McCusker & Company, which is NOT one of the three companies sold to ORRV, and Service USA, which was also not one of the companies sold to ORRV.

So ORRV paid $352,450.97 to pay off the debt of companies Will didn't even sell to them?

It seems to me this new information raises many questions. And as noted, getting answers to those questions seems to me to be very material to ORRV shareholders.

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (9) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
Current Price
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist