BAYP SUSPENDED-one of my three favorite scams
Apparently the tweeter crowd got too loud for the SEC.
Also there has been a character named Strickland who enjoys getting control of multi-B O/S stocks. Performs a huge R/S, then finds someone to assume all debt, file a lawsuit against the company, with the debt being settled with stock issuance. Unclear what Strickland gets out of this. Worth the SEC investigating.
BAYP has been controlled by the Strickland gang for a yr+. Then suddenly this scam, without any cash, assets, revenue, was made out as a partner with a huge resort hotel in Dec. As opposed to a mailbox drop. Also in Dec the 13B O/S was R/S ed back to 1.3M shares. Then came the lawsuit, and issuance of 310M restrictive shares. Unclear to me if these have to be held for a yr, or can get the ledger removed after the fact via Section 3(a)(10) of the Securities Act.
After the R/S the PPS started at $2. Some fat finger took it up to $32 a few sessions ago. Of course every pumper over there claims they were the lucky one who sold at $32.
This scam has a long sordid history. Started under the husband-wife team of the "Porters". Initially tried to be a rare Earths company when that was a fad yrs ago. Then they shifted to oil. Among their valuable acquisitions was an oil well plugged 10 yrs earlier in Oklahoma. Along the way they got into a skin care business using hemp oil so as to plug into the weed fad. After all oil is oil - right? There was the appearance of LeRoy, and his loan of $20M from his "fund" (created with crowd raising). I reported his ass to FINRA. Then there was the caper of wanting to recycle fracking water. Using an oil storage terminal in PA, already cited by the EPA for leaks. Somewhere mixed in they tried to swindle some folks out of WVA gas wells, and lost in a court case. Then they went the route of buying 5% interests in non-producing oil wells.
Then the Porters turned the scam over to their buddy Clay Franks. Who in a short time announced "Weed Weiser". The "Angie's List" of weed products/services. Plugged into an outfit that schedules scenic ocean going weed smoking tours. Finally came an executive car wash in California. Which wasn't registered as a business in California. Clay with a garden hose standing in his front yard?
Clay's' claim to fame is he took the O/S from a few B to 13B. Then to complete the loop, in comes the Strickland gang.
The Jewel of the Mind is Colored with the Hue of what it Imagines
