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Re: Psionic Trader post# 18013

Sunday, 10/08/2006 2:03:56 PM

Sunday, October 08, 2006 2:03:56 PM

Post# of 23108
IT Development solutions was the private Florida corporation that mostly built websites and handled web hosting. Downs got the distributor and manufacturing contracts for the fishing lure and the needlezap, but obviously those fell through. He must have had some legitimate connections in China or the Middle East or was able to convince these companies that he did.

What I find interesting is that Downs name was not listed as a officer of IT Development Solutions. Laura Brickley was the only officer. Then in June 2005, Downs formed IDS under the old ticker IDWS, out of the Syntech shell.

I also found these references to IT Development Solutions in Pakistan.

http://www.alibaba.com/company/10612643.html
Alibaba appears to be an Asian/Middle Eastern version of Yahoo!.

This one has Yasar Khawar Rabbani listed as the CEO:
http://www.pseb.org.pk/profile.php?id=1172

Here's my take and as yet I have nothing to back it up:

IT Development Solution (aka IDS) is a private company in Pakistan run by Yasar Khawar Rabbani. He either had a formal partnership with Downs' U.S. web design/hosting company by the same name or he met Downs at some point and Downs is using that operation for credibility in his scam. Yasar would know he is protected from prosecution from the SEC, so he provides Downs what ever he needs; a connection to legitimatge hiring posts by IDS Pakistan, pictures of the building, etc. Downs provides him with free shares, cash or some other compensation.

If you remember this picture:

http://www.hlsworldwide.com/up/snaps/ids/DSC00848.JPG

It shows half of a bus with IT Development Solutions on it. This makes me think IDS in Pakistan is a legit operation of some sort. It likely handles the web design and maintainence of 995ad.com Remember when someone found the backdoor into 995ad.com and found Yasar's favorite songs list? He is definitely involved.

This post is rambling and I aplogize for that. I am trying to put my mind around the specifics of the scam, but it is difficult. I am speculating alot. Any thought?

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