Something smells fishy with Caddo International (CADD) and its not even the penny stock promotions by shady newsletters like NYTimesReport.com and CNBCStockReport.com. Rather, its the fact that CADD already announced a dividend of Petrolind Drilling Company as far back as November 2007!
That’s right, CADD is double-duping their shareholders by announcing the exact same spin-off twice in the past 2 years. I’ve seen quite a few doubtful dividend declarations made over the years, and CADD is just the latest one to prey on innocent penny stock investors by offering the same “spin-off” multiple times:
Nov 2007: Caddo International (CADD) Announces Record Date of Petrolind Drilling Co.
Dec 2007: Caddo International (CADD) Announces Spin-Off of Petrolind Is Near Completion
and now this:
May 09: Caddo International Releases Positive Spinoff Details for Petrolind Drilling Company and Plans to Announce Green Housing Spinoff Company
It appears the management team at CADD has a family history of running unsuccessful penny stocks into the ground.
Mario Lanza is the son of Joseph and Jayne Lanza. All three were named defendants for breach of contract, unrichment, fraud, breach of fiduciary duty, negligence and violations of securities laws in the case AIRSTAR TECHNOLOGIES, INC. V. JOSEPH LANZA ET AL filed in the Superior Court of California (Riverside County) Case No. INC008689.
Members of the Lanza family are also involved in another lawsuit with OMDA Oil & Gas (OOAG).
More troubling information with CADD includes:
◦Joseph Lanza is a convicted felon and is the former President of Black Dragon Resources, the same company CADD recently “acquired” 60 Oil Wells from.
◦Thomas Neely (CADD director) has also been involved with OOAG and BDGR.
The Dean is reserving shares of CADD to short daily and will look for sideways action to pull the trigger.
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