Innovative Food Holdings Inc (IVFH)

[davidam]

Another press release about the scam. Evidentally our street .com has claimed the companys themselves were involved in the scam when the Sec themselves doubted it last year. They are now under investigation for fraud themselves. Our street. com is an example imo on why and how ivfh fell from 40 cent to sub penny. Even though the sec didnt think the companys themselves were involved many internet postings suggested otherwise.
Soon Ivfh will regain their rightfull share price imo

(financialwire.net via COMTEX) --May 9, 2005 (FinancialWire) "Nick Tracy," whom FinancialWire unmasked in an expose a year ago as no stock hero, but rather a never-do-well individual named Timothy Miles charged by U.S. Securities and Exchange Commission with stock fraud and charged by detractors as being a sloppy investigator who despite picking some bad apples, has almost never had his facts straight, says he's giving up his website, "Our-Street.com."

Whether that is true or another subterfuge, the irrepressible self-appointed "scam cop" has his SEC trial coming up in June. The other two individuals charged with him have also reportedly left the country. He is appealing a ruling against him in a case involving Circle Group Holdings (AMEX: CXN), and he continues to claim credit for "discovering" a phone scam involving six companies, including American Multiplexer Corp., Donini Inc. (OTCBB: DNNI), 5G Wireless Communications Inc. (OTCBB: FGWC), Innovative Food Holdings Inc., and Power3 Medical Products (OTCBB: PWRM) and their shareholders which the SEC recently said was in reality "discovered" and reported by the largest number of investors in its history.

True to his history of questionable diligence, the now apparently "former" Our-Street" proprietor has continued to suggest that the companies themselves were involved in the scam long after the SEC had said none of them were found to have been involved.

Although Miles had reveled in his oft-stated position that he is "judgment-proof,: in an essay entitled, "Thinking of Suing Our-Street? Read This," he stated that on May 5 he had handed off his ownership to "new owners." Like "Nick Tracy" before FinancialWire unmasked Miles, they are anything but transparent.

A search of the site did not turn up any information as to who the "new owners" are, or their respective agenda or backgrounds. Perhaps more interestingly, the site still continues what many believe are actionable, libelous content, and if there are indeed "new owners," it is not clear if these "new owners" enjoy the same apparent lack of assets that emboldened Miles to claim he is judgment proof.

After the Illinois court loss, Miles had taken down most of the comments about Circle Group Holdings and Halpern, as well, although he did add a statement after the judge's decision, when Miles had posted "Freedom of Speech IS DEAD," that could be considered libel anew: "That the courts would allow someone to invade and silence this home of unbiased and independent due diligence simply because some corporate criminal doesn't like the truths being told about him is wrong on many levels and has consequences beyond this website." It appears that he is still referencing Halpern.

Illinois Judge Susan Zwick, in her ruling against Miles, however, pointed out to Miles that "the same constitutional principles that guarantee free speech also work to insure that one who engages in such speech will stand behind it." The judge's order also pointed out numerous conflicting claims and statements made by Miles in filings and affidavits that were not supported by facts or evidence.

Miles has since publicly solicited help on legal fees via PayPal or credit card. He did not state in his solicitation whether any of the funds might also be used in his defense of fraud and corruption charges brought against him by the SEC. He also did not indicate whether he would provide any reporting to the public regarding received contributions.

Meanwhile, Miles said he plans to complete a religious novel on "the meaning of life," which he links off http://www.themeaningoflife.net , and has a new financially-oriented website, http://www.scamspotting.com , which lists among his credits, purported exclamatory statements from FinancialWire, and even the SEC: "Thank you very much." The latter is the statement that the SEC makes in its canned response to anyone who writes its enforcement division.

One year ago, FinancialWire unmasked the elusive, mysterious proprietor of Our-Street.com, who had claimed to be Nick Tracy of London, as Timothy J. Miles, of Klamath Falls, Oregon. A day later, Miles posted his admittance to his true identity, and a more or less confession, including the fact that he was being sued for fraud and corruption by the SEC.

"Securities and Exchange Commission v. C. Jones & Company, Carter Allen Jones, Timothy J. Miles, Gaylen P. Johnson, and Jonathan Curshen, Civil Action No. 03-WM-0636(PAC) was filed in the District of Colorado May 9, 2003.

Sources tell FinancialWire that Jones, Johnson and Curshen have left the country ahead of the trial currently set for this June, and now it appears Miles has followed their lead, although he continues to exist somewhere in the ether.

Observers are now wondering if Miles will appear in the SEC trial or any of those that are now closing in on the man who boldly posted "Thinking of suing Our-Street?", suggesting he was somehow prosecution proof and could say anything he wanted to about anyone, whether libelous or not, under the guise of "Freedom of Speech."

Our-Street has made some "believers," mainly by picking small questionable penny stocks with a boatload of promotions behind them. Over time, many invariably went out of business or ran into regulatory trouble, which Our-Street then claimed responsibility for. Some were shorted to death after becoming a "featured" company in Our-Street, meaning Miles seemed to have found a way to turn his sloppy investigations and questionable reports into self-fulfilling prophecies.

Something like throwing blindfolded at a dartboard with a giant center target which someone moves in front of the dart when it doesn't just accidentally hit the middle.

Such candidate companies are plentiful indeed. In just over two weeks, FinancialWire has unearthed and published reports on almost 60 small public companies about whom unnamed "third party" shareholders are running promotions, often pocketing profits on their own stock sales as unsuspecting investors ante up in a kind of pyramid stock scheme.

A year from now, how many of these will still be around? It isn't rocket-science.

Picking "losers" is easy, however, using Our-Street's methodology, according to observers: just throw manure and see where it splatters. Miles welcomes responses from his targets, but invariably brands them as "lies."

Before heading to the relatively safe haven of Slovenia, Miles' unmasking included revelations that he is a former broker and self-professed failed public company executive, who also operates websites devoted to art auctioning and a mysterious otherworld crystal his site says has revealed to religious leaders around the world "the meaning of life."

Slovenia, a relatively new country, is said to have only minimum The Hague conventions, meaning dealing with or extradicting individuals in that country are difficult if not virtually impossible for anything short of a capital crime.

In his recent post admitting to his move to Slovenia, Miles said one of the things on his list of "things I want to do before I die," is "live in Europe." He said other things on his list, like "preach sermons and touch people with them including in a Pentecostal church, and "become an international crime fighter," are now "done."

The ex-stockbroker and campaigner against "corporate evil-doers" is anything if not versatile.

After acknowledging his "mistakes" that resulted in SEC charges of fraud and corruption, and his failed efforts at running public companies and trading stocks, Miles/Tracy inexplicably stated that this background led him to believe he has the "skills necessary to conduct superior due diligence."

In his confession and acknowledgement, Tracy/Miles stated "there is more and more speculation on the message boards about the person or people behind Our-Street.com and a lot of speculation about who controls or influences it as well.

"My name is Timothy Miles. I am in my mid 50's so I have a lot of experience to draw on as I conduct my research.

"Since the early 70's I have been involved in business management in a wide variety of industries, and almost always with companies grossing less than $100 million per year. I have been involved in turn-around situations as well as start ups and been both a consultant, a hired gun and an entrepreneur. As a result of my experiences, I have developed the ability to analyze a company, its personnel and its activities with a certain degree of accuracy.

"I have been an investor since the late 70's and in 1988 I entered the securities industry on a full time basis as a stock broker. I had a pre-existing idea of what the brokerage business was like and was shocked to discover it was nothing like I imagined it to be. I innocently walked into the offices of Power Securities, one of the more notorious penny stock brokers and was both shocked and horrified to discover what this end of the business was really like. I left there within about a month and found a more suitable firm where I could actually work for my clients and not against them.

"I discovered over time that the best way to make my clients and myself money was working with companies as they were going public and in 1993, I left the brokerage business and started Pratt, Wylce & Lords, a public company that focused on helping small companies enter the public market. Through this company we helped several companies enter the public market, among them Applied Cellular Technologies (now Applied Digital Solutions NADSAQ: ADSX) and Gaming Venture Corp (now Casino Journal Publishing OTCBB: CJPG). I also worked with a not so successful company, Level Best Golf LBGF.

"In 1996, I shut down the company's operations as a result of my personal failures due in large part to my inability to comply with the SEC's stringent 40 Act requirements. Organizationally wise, I had bitten off far more than I could chew and I knew it. "Throughout this entire period, I never had a blemish on my record as a stock broker or as a consultant but it was in 1999 that I made a mistake I am not at all proud of. I was working with a company called Auric Enterprises, Inc. and had structured a 504 offering for the stock. A number of my friends wanted to invest but lived in California and Ohio, states that had not been approved for the offering. I was told that if they drove to a neighboring state like Nevada where the offering was approved, they could invest. Rather than having them do this, I made the mistake of telling them instead to put down addresses in approved states and filed these inaccurate documents with the NASD. I also was not accurate as to the relationships of some investors as well. This was wrong to do and I deeply regret having done it. I have admitted this to the SEC in testimony and stand fully accountable for my actions.

"Subsequent to these actions, Auric executed a reverse acquisition with Freedom Golf Corporation and when they became dissatisfied with their investor relations people they called me and asked me for referrals. I didn't have any but asked around and was given the names of two people who were supposed to be honest who I then referred to Freedom Golf. What followed was a significant promotion based upon false and/or misleading information and an SEC investigation," he noted.

The SEC's charges disagree, saying that Miles/Tracy actually paid for the scam hype, and failed at the time, as apparently he fails yet today, to divulge that fact. The SEC also said Miles/Tracy and his co-conspirators "reaped profits of more than $500,000" out of the fraud.

The case is used as "class materials" in presentations on stock fraud by John Reed Stark, Chief of the Office of Internet Enforcement in the Division of Enforcement of the SEC, at http://www.johnreedstark.com/ClassMaterials/LitigationReleases/freedomgolf.htm .

As to his other activities, he admits to having "built a website which deals with another love of mine. It is OTCart.com. I have developed a real time quotation system for limited edition art. It is very slow catching on but I remain optimistic," and to "have built another website which is connected to a novel I am writing. I have been an ordained Christian minister since 1970 and the book is spiritual in nature. It is about the meaning of life and the website is appropriately titled www.themeaningoflife.net . It was at this site where he revealed his "insider" knowledge about the mysterious "crystal."

Miles / Tracy says he is "disillusioned about the corruption that continues to infect the market and those who involve themselves in it and I certainly am not proud that I found myself swept up in it to the point where I personally did things I knew were wrong."

In February, Miles last wrote to FinancialWire, after first berating the newswire for covering his (short)comings, and as now seems to be the case, his goings, "I am empowered and inspired to do good for the market and to expose stock fraud and corruption in the market.

"I genuinely want to suggest you find a church and get in touch or back in touch with God and Jesus," adding it's a "good thing God forgives me my shortcomings."

FinancialWire replied that Miles' irrationality was mindful of Judges 15:16, "inasmuch as we feel as though we have been slain by the jawbone of an Ass."

Our-Street's publisher didn't respond, leaving reporters to infer the site's proprietor has no sense of humor that we are aware of.

Observers believe the market hasn't heard the last of Miles. Whether the SEC has heard the last of him will be determined when his trial comes up in June, or if and when his appeal of other lawsuits runs out.

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