LeaseSmart Inc (fka LSMJ)

[hotstocks-agent]

How did XXSys Technologies become Lease Smart? Could a reverse merger have been the cause? There was a symbol and name change back in October of 2005 that was accompanied by a reverse stock split, but there is no other evidence of a corporate change. The most likely scenario for such a move would have been a reverse merger..

..if you google LSMJ you`ll find a news where Elaine Davidson is stated as contact person [phone] and this website: http://www.leasemart.biz/
(but symbol stated @website of Lease Mart Cap Corp is LMCC, why did they write in the news LSMJ??!) Why?

..here`s the news I talked of: (NOT for entertainment use!) LOL

http://www.marketwire.com/mw/release_html_b1?release_id=107542

LeaseSmart, Inc. Announces Plans to Move Into Heavy Equipment Financing

TORONTO -- (MARKET WIRE) -- January 26, 2006 -- LeaseSmart, Inc. (OTC: LSMJ) is pleased to announce that it is planning to expand into heavy equipment and construction financing. The company is well established as a commercial loan company and is now preparing to branch out and expand the depth of the company.

Heavy equipment financing will be offered to clients for capital equipment, hardware and in some cases software. Many business owners currently don't realize "soft costs" can be leased, and LeaseSmart will also be offering this service. Soft costs financing includes such items as training, installation and consultation.

About LeaseSmart, Inc.

LeaseSmart is a 25-year-old full service Commercial Loan Company. Established in 1979, LeaseSmart offers a complete range of financing to small businesses. LeaseSmart services include leasing, invoice factoring, loans, commercial mortgages, and credit services.

LeaseSmart is not only a direct funder, but also has agreements in place with several leading finance providers in North America. LeaseSmart's objective is to assist our clients in obtaining their financing requirements, and to aid their growth and success, every step of the way.

Safe Harbor Statement

The preceding includes forward-looking statements which involve known and unknown risks and uncertainties which may cause the Company's actual results in future periods to differ materially from forecasted results. Forward-looking statements above are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including, without limitation, competition, intellectual property rights, litigation, needs of liquidity, and other risks detailed from time to time in the company's reports filed with the SEC. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, but not limited to, continued acceptance of the company's products and services, competition, new products and technological changes, as well as any and all "other risks" associated with business.


--------------------------------------------------------------------------------


CONTACT:
Elaine Davidson
[phone]
http://www.leasemart.biz/
Email Contact



SOURCE: LeaseSmart, Inc.




Corporate Hijacking Hits LeaseSmart?

Thomas J. Catino

Once again, we are charting into some very speculative waters, but hey isn't that why a lot of investors trade stocks on Over the Counter and PinkSheets market? The stock that we have been trying to dig up some information on is Lease Smart Inc. (OTC: LSMJ) which is a full service commercial loan company according to their last public release back in April of 2006. Lease Smart stock tripled today on over a billion shares traded, though it is difficult to see why since there has not been any news releases issued since last year. Since there is relatively little information out there ranging from non-existent contact numbers and a lack of a corporate website, we started using a resource that has proved to be reliable in the past. We logged on to the PinkSheet's website to find something... anything. Unfortunately, not much of the information was updated for Lease Smart on the site, but we did discover that the company was formerly known as XXSys Technologies Inc., a developer of composite retrofit systems for infrastructure renewal.

But this is where it gets a little fuzzy. How did XXSys Technologies become Lease Smart? Could a reverse merger have been the cause? There was a symbol and name change back in October of 2005 that was accompanied by a reverse stock split, but there is no other evidence of a corporate change. The most likely scenario for such a move would have been a reverse merger.

Here is what happens in such a transaction; typically, shareholders of a private company gain control of a public shell by merging it with their private company. Then the public shell company issues a substantial majority of its shares and board control to the shareholders of the private company. Since the transaction process is not too complicated, the reverse merger can be accomplished in as little as two weeks, resulting in the private company becoming a public company.

However, we are a little skeptical about if this did legitimately take place considering the events surrounding The BigHub.com Inc. (OTC: BHUB) and because there was never a formal announcement issued by the company. Adding to the suspicion is the fact that the transaction does not go through a review by state and federal regulators.

So we looked to Lease Smart's transfer agent, Select American Transfer Co. to continue our due diligence process and made our first phone call. What we found out is the company has apparently not paid its bills for months, and as a result, the transfer agent has stopped working for the company and has tried to get in contact with corporate officers for weeks but to no avail. The representative declined to give out any additional information, only to add that most of it would likely be outdated.

Yet, XXSys is not a dormant company and is still active according to filings with the state of California so that begs the question why the company would undergo a reverse merger if its operations have not ceased. To get some answers, we spoke to XXSys CEO Dr. Gloria Ma. Naturally, she did not reveal much and would not comment on the situation except to clearly distance herself and her company from Lease Smart. She firmly stated there is no relationship between the two companies.

However, what is interesting is the relationship between The BigHub.com Inc. (OTC: BHUB) and Lease Smart. Both companies, besides sharing the same transfer agent at one point in time, list the same corporate address which just so happens to be a UPS store according to state filings. If you recall from a previous article, we noted that BigHub.com is likely a victim of corporate identity theft.

In 2005, individuals by the name of John Sparrow and Jason Wong registered a corporation using the name The BigHub.com Inc., according to Florida Secretary of State documents. It is not certain at this point, but there is speculation that Sparrow and Wong might have opened an account with Select American Transfer and claimed ownership of the company which would have given them the ability to change the share structure and sell shares on to the open market. Recently, the BigHub.com has traded in excess of half a billion shares on a daily basis.

BigHub.com Interim President Darrell Peterson told Ant & Sons that the company is working diligently to update their corporate information. The company's legal team is being very pro-active and investigating the irregular trading activity that could have occurred as a result of unregistered or illegal shares hitting the open market. Peterson confirmed that there has been no share authorization increase that he is aware of since the last 10-Q SEC filing that indicated there were 50,000,000 shares.

Could the exact same thing be happening with XXSys? The last annual filing with the Securities and Exchange Commission indicated an outstanding share count of just over 14 million shares (before the stock split). If there is more substance to what could turn out be another possible corporate hijacking that has involved millions of unregistered or illegal shares hitting the market, than Lease Smart shares are in for a wild ride. We hope to find out more in the coming days, so stick with Ant & Sons for the latest coverage.

The author does not have a vested interest in Lease Smart Inc. (OTC: LSMJ) nor The BigHub.com Inc. (OTC: BHUB).

http://www.antandsons.com/2007/04/corporate-hijacking-hits-leasesmart.html