Horrible news. Absolutely horrible.
FWAV has new financing with 1800 Diagonal Lending LLC.
I cannot find anything good about this toxic lender.
Most companies share prices have dropped 50% since making a deal with Diagonal Lending.
Curt Kramer (1800 DL LLC) had multiple issues with the SEC.
This guy is a POS creep. Causes huge dilution in stocks he gets involved with.
Run the the hills.
JMO.
Here are 4 examples.
1. Nov. 25, 2013 —
The Securities and Exchange Commission today charged a New York-based penny stock financier and his firms with violating the federal securities laws when they purchased billions of shares in a pair of microcap companies and failed to register them before they were re-sold to investors for sizeable profits.
Curt Kramer and his firms Mazuma Corporation, Mazuma Funding Corporation, and Mazuma Holding Corporation agreed to disgorge those profits in paying a total of $1.4 million to settle the SEC’s charges.
2. From December 16, 2008 through May 26, 2009, Kramer and Hope Capital sold over 113.5 million shares of Spongetech stock in illegal, unregistered transactions and obtained profits of $525,603. Kramer and Hope Capital used the mails and other means of interstate commerce in connection with these offers and sales of Spongetech shares.
3. DBMM, which needed a capital infusion to pay for three years audit all at once, entered into a series of ill-fated convertible instruments with Asher Enterprises, Inc., Unbeknownst to DBMM, Asher Enterprises, Inc. and its principal Curt Kramer was subsequently classified as a bad actor by FINRA, pursuant to FINRA Rule 6490… Asher Enterprises, Inc. is a toxic lender. It loans issuers money and takes convertible instruments and then proceeds to relentlessly convert shares materially discounted below market price to perpetually sell at a profit, and ever decrease the share price because no matter how low the stock price goes Asher is always selling well below its cost basis. The share price can never go up with the selling pressure, and Asher never stops.
4. VNUE, Inc. (OTC: VNUE), a Microcap national music tech innovator, filed a lawsuit in the United States Federal District Court for the Eastern District of New York last week against Power Up Lending Group, LTD and founder Curt Kramer. VNUE accuses the plaintiffs of breaking Securities and Exchange Commission (SEC) laws, alleging they are a “death spiral” or “toxic lender,“ an unregistered securities dealer that sells convertible market adjustable securities products to small public companies—businesses that are often struggling to raise capital.
