Ubiquitech Software Corp (UBQU)

[somanymike]

Thank you. Historically (many times in the past), James Ballas would "borrow" money from a friend. Usually around $50,000. Instead of paying it off with cash, even when they had plenty of cash on the books, they pay it off with new issue shares. These shares pay off the debt at a rate of .0001 per share. So 500 million shares for 50k in debt.

Then they would do a few PR's, make some promises etc. and get some volume and price movement happening. Once everyone is excited and buying up shares like crazy they start filtering in those new issue shares. To the tune of hundreds of millions of shares per day sometimes. Selling them at may times the par value of .0001.

So the debtor gets a huge multiple on his 50k, usually millions of dollars (The only 'speculation' here is that Ballas would get a cut. The rest is factually recorded in the financials).

50k loan = millions of dollars worth of shares. And when the fins come out showing the truth of all this, the share price plummets as people realize that their shares now represent a much tinier portion of the overall share count than was listed on the prior financials.

Then they wait a while, 6 mo. to 1 year usually, and start it all over again.

It's and effective scam, and based on the SEC's lack of intervention, a legal one.