Saturday, January 22, 2011 10:38:35 AM
GRES whose officres were also officers of TMSH at the time (according to the filings) purchased 52,000,000 shares of TMSH stock.
They then falsely filed an 8K that there was going to be a merger between the two companies (GRES had done a PPM raising money to go public which also supported this) and falsely advertised tens of millions of dollars in JVAs and projects on their websites - combined with a very large promotional driven pump (helping to artificially raise the price of the stock to over 70 cents a share).
Then they reneged on the merger and removed all the false information from their websites. This company has been scrutinized the way it has because it earned it.
I'd say there is a pretty clear argument for the SEC to step in on this one.
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