Ok. Then they aren't creating new stock, but rather pulling a traditional pump n dump scam either way... this is what I wrote in the details of my SEC complaint form:
I believe that Angelciti (AGCI) is using its subsidiary, Midas Entertainment (MDAS) to pump the stock price of AGCI allowing insiders to take quick gains before they bring the stock price down again. They are doing this by releasing misleading information to the public. Today, they accounced that they would be giving away a stock dividend of MDAS 1 share for every 7 shares of AGCI owned. This is the second time they have done this. They fail to mention that the shares of MDAS are restricted and cannot be sold. They gave away well over a millin shares in the last dividend disbursement, with no intention of ever registering and making this stock common tradeable shares. Currently, MDAS is trading at $8.40, while AGCI is trading around $1, making this seem like an extremely good buy. If the shares ever become commmon, the price of MDAS will easily go to no value because there are so few outstanding shares now and they are giving away millions of shares in the meantime to artificially pump up the price of Angelciti. I talked to Rick McCaffrey from the OTC financial netwrok, as he was listed as the contact for investor relations for AGCI. He told me that MDAS restricted shares would become common stock with Midas' next resgistration, which would be within 6 months to 1 year. This was 3 months ago, but I never really believed it to begin with. The fact that they are giving away more restricted shares without registering the first ones makes me thing this is unethical price manipulation. They have also made forward looking claims about how MDAS stock did not even go down after 1,247,974 shares of MDAS were distributed to AGCI shareholders. Of course these shares have no actual value and cannot be traded. MDAS trades on under 500 average volume/day and clearly is just a shell.
AI
