The Ecowood deal is simply more proof how wide the net must be for the SEC to catch everyone.
Ecowood has been a pawn of scam companies for years now.. boasting big numbers in order to con people into thinking there is merit to it.
On June 14, 2000, the Company entered into a joint venture with EcoWood, Ltd., providing Enviro-Recovery with the rights to submerged logs in the Amazon River and tributaries in the State of Para. According to EcoWood representations in the joint venture agreement,
1) there is between 10 and 60 million cubic meters of logs in the areas covered by the recovery licenses based on EcoWood research and
2) EcoWood has rights to recover the logs from the Amazon River system. Under the joint venture agreement, EcoWood shall recover and process logs exclusively for Enviro-Recovery. Enviro-Recovery will finance log retrieval and milling operations and develop export markets for the environmentally safe wood products. Enviro-Recovery retains the earnings of the joint venture. The Company loaned EcoWood, Ltd. $123,400 for business development which is included in other assets at September 30, 2000.
Enviro-Recovery Inc. announces agreement with Resource Recovery Inc Business Wire, May 6, 1997
VANCOUVER, British Columbia--(BUSINESS WIRE)--May 6, 1997--Enviro-Recovery Inc. (OTC BB:EVRE) announced that it has entered into an agreement with Resource Recovery Inc., a Florida corporation whose principle business is the recovery of submerged old growth timber from the Great Lakes.
Resource Recovery has its base of operations in Ashland, Wis.
Details of the agreement will be disclosed following formal closing on or before June 2, 1997.
You see, being environmentalists.. rather than inventing new scams.. these considerate con men are recycling old scams, bringing them back to life when appropriate. This one even still has the old website showing the non-existent stock symbol and everything. What a joke! http://www.timelesstimber.com/about/index.php?content=enviro-recovery,inc.
I wonder if there is such a thing as a con men's lending library where you can find and check out used but dormant and forgotten scams to use in you pinksheet and bulletin board companies. Might be a really great idea...
Still, you gotta give Mike Alexander credit for jumping into the zero brigade. Not to be outdone by some semi-literate con-man wannabe.. He opened with $75 Billion, outdistancing Rufus by a country mile then put him away with a solid string of 12 zeros with a staggering $4,000,000,000,000 (four trillion) value to something called carbon credits.
Rumor has it he was gonna go with $4 quadrillion but he was concerned someone might not find it believable. Still, like the shrewd con he is, he heald the titanium figure in reserve in the unlikely event Rufus decides to counter with a monster bond from some Nigerian Bank where he will get 20% simply for helping a Nigerian prince get his money out of the country.
Then to add gravitas to the whole thing he dropped in a few names to make it sound even more real.. like Gates, Clinton, Gore... and for the movie buffs.. DiCaprio. Why he left out Paris Hilton and J Lo is anyone's guess.