Bitech Technologies Corp (BTTC)

[jtomm]

Regarding Dr. Donovan

tchauncy,

That's the company I thought would be the one so I looked it up, but I can see no evidence of an $11 per share buyout. The company sold some assets at various times, and rejiggered things a few times, changed names a few times, but eventually went bankrupt:

http://www.sec.gov/cgi-bin/browse-edgar?company=drca+medical&CIK=&filenum=&State=&SIC=&owner=include&action=getcompany

The Spine Pain website describes Dr. Donovan's involvement with public companies as follows:

"Dr. Donovan is a Board Certified Orthopedic Surgeon and has been involved with venture funding and management for over 25 years. He was the Co-Founder of DRCA Medical (later known as Integrated Orthopaedics, Inc. (I.O.I.) and became Chairman of this company that initially became public by trading in the pink sheets, then listed on NASDAQ and then to the American Stock Exchange (AMEX) before being acquired by a subsidiary of the Bass Family. He was the Founder and CEO of "INeedADoc.com" (INAD), later changed to IP2M and acquired by Dialog Group, a public traded company. He was the Chairman of House of Brussels, an international gourmet chocolate company."

That all sounds impressive, but the SEC filings seem to indicate that none of these companies were successful. I was unable to verify any buyout from the Bass family on the first company.

The second company was allegedly acquired by Dialog Group, a public traded company. Again, sounds impressive, but Dialog Group was just a small pink sheet company that never amounted to anything and went defunct:

http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001051059&type=&dateb=&owner=include&start=120&count=40

http://www.otcmarkets.com/stock/DLGO/quote

Same thing with House of Brussels chocolates. Dr. Donovan and his son appear to have run it. Never profitable, horrible margins, went defunct:

http://www.sec.gov/cgi-bin/browse-edgar?company=house+of+brussels&CIK=&filenum=&State=&SIC=&owner=include&action=getcompany

http://www.otcmarkets.com/stock/HBSL/quote

None of this means Spine Pain can't be successful. I actually think the company looks interesting. But that description of him on the management page that I quoted above appears to make his involvement with public companies sound better than it really was. Why do this? I would much prefer a description that said, "After learning some difficult lessons with past misadventures with public companies, Dr. Donovan hopes to apply that experience and make Spine Pain successful." I'd have much more respect for a straightforward description like that, rather than finding out that the facts don't seem to match up with the inflated description. As an investor, it only makes me wonder if other things are being inflated.

In the conf call, I found the Doctor to be low key and not promotional. That's why the description on the webpage is bothersome.

That's just what I found in attempting to verify this.