Churak, ggraessle and AKvetch
Since you have done such good research on YAKC, I am sending each of you a "research" present from "the_worm06 Research Department"...enjoy:
Regarding a Director and major stockholder of YAKC and another major stockholder of YAKC:
from Raging Bull TVCP board:
By: the_worm06
05 Jul 2001, 01:00 AM EDT Msg. 133549 of 167027
scu - I had decided to move on and have no beef with TVCP, it's directors and Zwebner, but you continue to post false statements about the_worm06.....so:
The Michael Zwebner - Anthony Heller Scam:
1. Zwebner and Heller have been long time friends and business partners for approximatley 30 years.
2. TVCP, led by Zwebner, acquires a Toronto real estate property from Heller for approximately $2 million on Feb. 1999.
3. Heller receives 975,000 convertible preferred shares for $975,000 out of the $2 million in transaction value.
4. The 975,000 conv. pref. shares are convertible into TCVP common shares at the lowest market price during a certain period of time, chosen by Heller.
5. TVCP normally issues about 2 press releases per week. During a two month period, Sept.9,1999 to Nov.2,1999, TVCP issued Zero press releases.
6. TVCP's stock price dropped significantly during this period.
7. On December 1,1999, Heller notified TVCP that he chose that period to determine the conversion price. He chose the lowest price of the year, 5.83 cents/share.
8. At 5.83 cents/share, Heller now can convert his $975,000 worth of property into 16.7 million common shares of TVCP.
9. On Dec. 1st, the 16.7 million common shares of TVCP equaled approximately 60% of the total shares outstanding, a materially significant event for TVCP.
10. TVCP fails to notify the public stockholders of this notification by Heller until more than 4 months (April 13th, when 10-K was issued).
11. At this time, Heller was the only preferred stockholder of TVCP.
12. During the period Jan.1,2000 to July 7,2000, the preferred holders converted into, and were issued by TVCP a total of 12.5 million common shares of TVCP (out of the total of 16.7 million).
13. During the first six months of 2000 Anthony Heller sold at least 8 million of these common shares issued by TVCP to him.
14. Heller also transferred part of the preferred shares to another entity partly owned by the Chairman of TVCP.
15. The other entity that received preferred shares from Heller was Overseas Communications Ltd.
16. Overseas Communications Ltd. is 33% owned by Michael Zwebner, the Chairman of TVCP.
17. During June, 2000, TVCP again issued ZERO press releases (except for one), causing the stock to drop.
18. Heller and Zwebner's entity, Overseas Communications, used this low stock price period in June,2000 to invest additional funds into TVCP (the preferred sharesholders), but at signifcantly discounted prices, 35 cents per shares, and received MILLIONS OF ADDITIONAL TVCP COMMON SHARES.
19. Even though Heller has sold at least 8 million TVCP common shares and Zwebner has sold at least 3 million TVCP common shares for a total of 11 million common shares, neither has made the proper SEC filings to document these sales of TVCP common stock.
20. Did Zwebner agree to give Heller a sweet deal, 16.7 million common shares of TVCP for only $975,000 worth of Canadian Real Estate property, in order to received or acquire preferred stock from Heller at favorable prices?
21. Why is TVCP still, as of June 30, 2000, still allowing Heller to use the Toronto property as collarteral for a $600,000 loan?
22. During the period Jan. 1, 1999 to July 7, 2000, TVCP issued approximately 18 million (EIGHTEEN MILLION) common shares to Heller and to Zwebner's 33% owned entity in these transactions.
23. Is this the dilution that everyone has been talking about?
24. Is this part of the reason why TVCP's stock price has fallen from about $4.00 to 50 cents/share?
All of the above in my own opinion
