8000 Incorporated (EIGH)

[janice shell]

The curious story of the luxury hotels on the Black Sea:

8000inc
The Company is trying to contact a property development company that took control of the original www.8000inc.com website. This company was NOT and is NOT associated with 8000inc, but used, in our opinion the pre-populated website 8000inc.c...om. This company had a presence on the popular investor forums and offered investors the opportunity to "buy in" to the development, similar to an IPO through subscriptions. These activities took place in 2009, however, there is no record of this company, its project, the investor boards has dissappeared and there are no references on the internet, none whatsoever. In line with our open policy, and the recent events, the Company wishes to make contact so that we can be sure that this was not a sham IPO, using the original 8000inc website. If opinion is supported, this activity may explain the concern shown by many and the fear of some that 8000inc may be subject to a short interest. The Company would like to ask any shareholder if they have any details regarding this development company so we may close this matter.

Oh really? And they're only just mentioning that now? Let's take a closer look.

The company that became EIGH had existed in the U.K. since 2002 as Cannonball 8000, and was run by Conrad Wall. It was incorporated in Nevada as 8000 Inc. in July 2007, and filed its initial information with Pinksheets in May 2008. Cannonball 8000 became a wholly owned subsidiary:

http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=15013

Conrad Wall was the only officer.

There are no Pinksheets filings at all between 5 June 2008 and 7 November 2009. There are no press releases between 3 June 2008 and 24 November 2009.

This is the financial statement published on 7 November 2009:

http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=25766

And there, on page 5, is the solution to our little mystery:

As a long term investment for 8000 Inc., the division is negotiating to invest in a luxury ocean front development project.

That is the Black Sea resort. Obviously nothing came of it.

By that time, Kelly was CEO. Presumably Bryant was somewhere in the background, since Kelly had had earlier dealings with him. In a later filing (p. 19) we learn that Kelly replaced Wall in October 2009.

http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=28190

Perhaps there was some kind of power struggle between Wall and Bryant. Evidently they worked it out amicably in the end, given that Wall is still associated with the company.

If opinion is supported, this activity may explain the concern shown by many and the fear of some that 8000inc may be subject to a short interest.

That's just ridiculous. People who subscribe to an "IPO" (what's actually described sounds like some kind of private placement) usually get restricted stock in certificate form. Presumably, impostors would not have access to EIGH certs. Are we to imagine that the company somehow lost a cert pad? Or what?

Perhaps they're just pandering to shareholders who want to believe there's a short position.