Camelot Entertainment Group, Inc. (fka CMGR)

[Mingy]

I can’t even believe this scam is even trading. These people should be in jail!

Look what they do here. They set up these shell companies, the companies issue these shell companies convertible debt, which they get at 50% the price of the stock the day they decide to convert. They convert the debt to stock, and dump it on the market. WOW.

What a shame, PM me if you lost money on this thing, these people should be in jail.

http://biz.yahoo.com/e/091002/cmgr.ob8-k.html

On September 10, 2009, the Company entered into a Debt Purchase Agreement with Mazuma Holding Corp. ("Mazuma"). Pursuant to the Debt Purchase Agreement, the Company issued to Mazuma a $45,000 Convertible Promissory Note with the following terms: (i) maturity date of September 9, 2010, (ii) interest at a rate of 15% per annum, and (iii) convertible into shares of the Company's common stock at a price equal to 50% of the average closing bid price for the Company's common stock for the five trading days prior to conversion. There is no material relationship between the Company or its affiliates and any of the parties, other than with respect to the Debt Purchase Agreement.