DD Support Board and Research Team

[nodummy]

The difference is that after Samuel Oshana got a discipline order with IBC Funds LLC

https://www.sec.gov/litigation/admin/2016/33-10042.pdf

he started using a broker/dealer for the debt to free tradings stock 3(a)(10) transactions (Meyers & Associates LP aka Windsor Street Capital LP)

Oshana just tacks on the fee that Meyers & Associates charges as part of the debt being turned into free trading stock


Meyers & Associates LP isn't the most reputable broker since according to the SEC they have multiple violations where they have ignored obvious red flags while facilitating suspicious share sales in lots of pump & dump penny stocks

https://www.sec.gov/litigation/admin/2017/33-10293.pdf


The bigger issue with these 3(a)(10) transactions is that I'm seeing lots of cases where companies like Northbridge/Rockwell are being allowed to sell the stock first then pay off the debts second which would be considered a kickback. Or where companies like EROP Capital are providing cash payments on behalf of the public company in exchange for 3(a)(10) stock (a capital raising event). Or where some of the debt looks to be bogus like what the SEC said was the case with many of the IBC Funds transactions. Then you have the whole issue of pre-arranged settlements (like what got Mark A Lefkowitz and Anthony Lopez Indicted a few years ago) which is what so many of these 3(a)(10) transactions are.

The whole 3(a)(10) transaction thing is on a dangerous path and it wouldn't surprise me if we start seeing a lot of 3(a)(10) related litigation in the near future. Hopefully even some of these Funders and CEOs getting Indicted.