There are so many non truths in his letter that it reeks of a desperate man. Failing to have any public forum and to tell the transfer agent to not publicly disclose the O/S share count is a sure sign of a man hiding behind his failures by blaming others and making up scenarios not even remotely based on facts.
His letter is blatantly false, but follows a seemingly disastourous pattern of behavior by this pathetic man. First, the blame of the PPS is put squarely on the shareholders or shorts. Please. The O/S share count was at 229 million before the split. He said that the split was because more institutions would buy the stock over $.40. He then said he was upgrading to an exchange OTCYX.That did not happen.
The letter , false on just about every front except his name, is riddled with half truths and lack of vision and accountability. But I digress.The 229 million shares were not enough to pay his bills.Right before the split, without ever telling anyone, he paid out 50 million shares. We do not to who are why these shares were issued. He had made agreements to pay out for lawsuits and services with stocks that he did not have enough to keep his debt agreements.He reversed split. The O/S went down to to 13 million. Again, hiding behind a veil of secrecy, while all the while putting out multiple fluff press releases, he started to again increase the shares. The capital restructuring of the Valen's loan gave him an unprescedented windfall. He would always have 51% of the shares with his preferred share bonanza, that was not subject to the reverse split, and he would pay himself a never ending 7% interest on the loan. Also, a new partner was engaged to help keo him afloat. See Hugh oneil. He said after the Valens loan that the Co. would take off. The Valens loan was blamed fopr tying up assests. However there is still about $2 million unaccounted for in the loan dispersement. But he wasnt done. He started to issue press releases that justified the PPS decline. They are simply not true. He claims, issuing facts that are distorted for his own advancement and lack of reponsibility, about certain trading pattern of penny stocks. what he doesnt say is that this Co. was on its way out of the OTC until he got sloppy, arrogant, and would not face the fact that he does not have the capacity to lead a $100 million a year Co. if the reports are really valid. This last report is unaudited.the "office" for the accountat is listed at 2223 S Olive St. in Denver, Colorado. I put "office" in quotation marks, because Hamilton PC is not even in the Yellow Pages as an accountant. It is strictly a home office operation. Prior to this year, Hamilton PC has not existed and has never audited a company for the SEC. There is no listing or phione number for Mr. hamilton's Co. Have you ever heard of a $100 million a year Co. with a HOME accountant? He professes to be interested in long term stability but is doing so many things wrong that I cant believe he is a CEO of a public compnay. What he doesnt say is that Companies leaving OTC, PINK SHEETS and this arena, need to have very low leverage and debt. He did the opposite, and you see the results. To put out a letter like he did would be the final straw if they had a real BOD, but this board is filled with puppets because he makes all the calls, because he control;s 51% of the stock. How do you blame others when you have all the say in all matters?
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