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Thursday, March 10, 2011 6:33:04 PM
The company seems to be a semi-legit front but they are public for much the same reasoning as EXPH is. They exist using shareholder equity to pay their salaries, bonuses, perks, etc. Erwin Vahlsing, Jr. is the key to watch. The guy is an accountant who goes around setting up marriages between toxics/PIPE funders and pink sheet and OTC companies like ICOA. A facilitator for access to shareholder equity conversion who takes a position as CFO, sets up a restructuring deal and takes his cut in cash or shares or both. I am assuming he was responsible for the ICOA "restructuring" in 2010? He seems to have been operating out of ICOA for some time now and he and Strouthopoulos have been involved in a bunch of these types of "deals". My buddies at FAKE got him and Strouthopoulos pegged as tag teaming a bunch of these equity drain outs over the years:
Director ICOA, INC.
GEORGE STROUTHOPOULOS President ICOA, INC.
GEORGE STROUTHOPOULOS President INTERNATIONAL DATA CAPTURE, INC.
GEORGE STROUTHOPOULOS Secretary INTERNATIONAL DATA CAPTURE, INC.
GEORGE STROUTHOPOULOS Treasurer INTERNATIONAL DATA CAPTURE, INC.
GEORGE STROUTHOPOULOS Director WEBCENTER TECHNOLOGIES, INC. CIK #0000745084
GEORGE STROUTHOPOULOS President WEBCENTER TECHNOLOGIES, INC. CIK #0000745084
Officer Name Officer Type Entity Name:
ERWIN VAHLSING JR Director ICOA, INC.
ERWIN VAHLSING JR Secretary ICOA, INC.
ERWIN VAHLSING JR Treasurer ICOA, INC.
ERWIN VAHLSING JR Director SUNGRO MINERALS INC.
ERWIN VAHLSING JR Secretary SUNGRO MINERALS INC.
ERWIN VAHLSING JR Treasurer SUNGRO MINERALS INC.
ERWIN VAHLSING JR Managing Member CLEAN ENERGY AND POWER EU, LLC
ERWIN W VAHLSING JR Director CLEAN ENERGY AND POWER, INC.
ERWIN W VAHLSING JR Secretary CLEAN ENERGY AND POWER, INC.
ERWIN W VAHLSING JR Treasurer CLEAN ENERGY AND POWER, INC.
ERWIN W VAHLSING JR Director WEBCENTER TECHNOLOGIES, INC. CIK #0000745084
ERWIN W VAHLSING JR Secretary WEBCENTER TECHNOLOGIES, INC. CIK #0000745084
ERWIN W VAHLSING JR Treasurer WEBCENTER TECHNOLOGIES, INC. CIK #0000745084
They were also involved in a suit that look like some pretty sleazy stuff was being pulled on investors:
http://www.rid.uscourts.gov/menu/judges/opinions/martin/10032007_1-07CV0069S_MJM_ICOA_v_QUAINTANCE_MO.PDF
Their startup and early filing info:
http://www.docstoc.com/docs/46605382/Private-Placement-Memorandum
The "buyout" of the shell company "WISP" may be part of Vahlsing's payoff. Although all those shares from the "restructure" are locked, they still could have pledged them to PIPE funders at a guaranteed minimum discount at lockup expiration and cashed them out already. I am really speculating on all this as I just grazed the surface but if the FAKE guys are on to them, there's a better than 90/10 chance they're scammers. That doesn't mean you can't play the company for a run, just don't be disillusioned into believing that all that's going on here is WIFI installations, LOL. Best of luck with it but be careful. All IMHO.
SBB
PS: Watch out for anything involving this "director" as well. Seacoast Funding is a Nevada based PIPE Funder that I am fairly certain has received a lot of ICOA shares for their "consulting fees":
Officer Name Officer Type Entity Name
STEVEN TAVARES Director ICOA, INC.
STEVEN TAVARES Director WEBCENTER TECHNOLOGIES, INC. CIK #0000745084
STEVEN TAVARES Director SEACOAST FUNDING INC.
STEVEN TAVARES President SEACOAST FUNDING INC.
STEVEN TAVARES Secretary SEACOAST FUNDING INC.
STEVEN TAVARES Treasurer SEACOAST FUNDING INC
SEACOAST FUNDING INC.
Business Entity Information
Status: Default File Date: 6/22/2005
Type: Domestic Corporation Entity Number: E0395842005-5
Qualifying State: NV List of Officers Due: 6/30/2010
Managed By: Expiration Date:
NV Business ID: NV20051391877 Business License Exp:
Registered Agent Information
Name: INCORP SERVICES, INC. Address 1: 2360 CORPORATE CIRCLE STE 400
Address 2: City: HENDERSON
State: NV Zip Code: 89074-7722
Phone: Fax:
Mailing Address 1: Mailing Address 2:
Mailing City: Mailing State: NV
Mailing Zip Code:
Agent Type: Commercial Registered Agent - Other
Jurisdiction: NEVADA Status: Active
View all business entities under this registered agent
Financial Information
No Par Share Count: 75,000.00 Capital Amount: $ 0
No stock records found for this company
Officers Include Inactive Officers
Secretary - JENNIFER ABBOTT
Address 1: 375 N. STEPHANIE STREET SUITE 1411 Address 2:
City: HENDERSON State: NV
Zip Code: 89014 Country:
Status: Active Email:
Director - JENNIFER ABBOTT
Address 1: 375 N. STEPHANIE STREET SUITE 1411 Address 2:
City: HENDERSON State: NV
Zip Code: 89014 Country: USA
Status: Active Email:
Treasurer - JENNIFER ABBOTT
Address 1: 375 N. STEPHANIE STREET SUITE 1411 Address 2:
City: HENDERSON State: NV
Zip Code: 89014 Country:
Status: Active Email:
President - STEVEN TAVARES
Address 1: 2050 RUSSETT WAY Address 2:
City: CARSON CITY State: NV
Zip Code: 89703 Country:
Status: Historical Email:
Secretary - STEVEN TAVARES
Address 1: 2050 RUSSETT WAY Address 2:
City: CARSON CITY State: NV
Zip Code: 89703 Country:
Status: Historical Email:
Treasurer - STEVEN TAVARES
Address 1: 2050 RUSSETT WAY Address 2:
City: CARSON CITY State: NV
Zip Code: 89703 Country:
Status: Historical Email:
Director - STEVEN TAVARES
Address 1: 2050 RUSSETT WAY Address 2:
City: CARSON CITY State: NV
Zip Code: 89703 Country:
Status: Historical Email:
President - STEVEN TAVARES
Address 1: 375 N. STEPHANIE STREET SUITE 1411 Address 2:
City: HENDERSON State: NV
Zip Code: 89014 Country: USA
Status: Active Email:
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