To insure the safety of the investment community here he deserves to fry for pumping 8-Ks like this prior to their release.
PINNACLE BUSINESS MANAGEMENT INC. ALL PRO DEFAULT
The company has been in default of its obligation to the Vincent A. LoCastro Irrevocable Trust dated 11/30/93. The current default includes approximately 6.6 million dollars in principal and $761,000 in delinquent interest. The company has also been in default of its June 2002 forbearance agreement with the LoCastro's. The Trust has declared a foreclosure and default. The company was unable to cure the default therefore effective July 31, 2003 the foreclosure was effective. The companies only operating business reverted to the Vincent A. LoCastro Irrevocable Trust dated 11/30/93. As a result the company has no assets, no operating business and no sources of revenue. Mr. Vincent LoCastro and Mr. Jeffrey Turino have resigned. Mr. Bruce Hall will remain as sole officer and director.
The Lo Castros are in the process of returning 2,169,990,000 shares of common stock which leaves 22,309,515,014 issued and 25 billion authorized.
For those who understand no explanation is needed, ...For those who don't none will.
