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Sunday, May 02, 2010 8:10:38 AM
When Berman created this "so called" incorporated "Holding Company", investors were suppose to be included as holders of any purchases or acquisitions. Shortly after he concluded the 504 he acquired another bankrupted pink that I've noted which later became AUMN.
When investors inquired about it, and his plans for issuing divvy's which should have occurred, in his own words, this is how he responded........"If anyone wants shares they will have to buy them!". When he was questioned about the million from the 504D, and its conclusion of where that money was supposed to be used, the project was for the Payday mine, his response was, "This was his company and he would do with it what he wanted, everyone else was along for the ride!"..
He acquired this pink for the sole purpose of duplicating what he had done with Russell. He filed an additional 504D. One for Russell and one for AUMN. His second scam. He claimed AUMN had 68 mines, but no one could validate this nor where the mines supposedly came from. He eventually sold his shares into the market from a $1.00 share + and took its pps down to a penny or less. Its hard to tell just how money he's raked in for himself over the last several years, but a million an more would probably be close to accurate. With all the o/s shares he's issued it could be two million, who knows?. Investors never have, and never will see a return on any investment with him, its all about Rick Berman, and his mate.
It would have been illegal for him to use funds from Russell and acquire AUMN, and investors not be issued divvy's. Nor could he use any money from Russell for AUMN. This at the very least would be a conflict of interest.
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