The Golden Lounge

[Art2Gecko]

now here's an interesting post..

http://ragingbull.lycos.com/mboard/boards.cgi?board=GLVP&read=468

This was the guy that posted about the granny selling, first.

Could be what's going on..

By: walktowalk
27 May 2005, 09:51 PM EDT
Msg. 468 of 468
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Thickening the Plot

Someone from IHUB OCT physically went to Department of State Division of Corporations located in Tallahassee, FL 32314, today and took some digital photos for the latest filing (May 25th). What they found about the filing was astonishing. 250 TRILLIONS of common shares. See below

Article IV of the Corporation's Articles of Incorporation is hereby deleted in its entirety, and replaced with the following:
4.1 The capital stock of this corporation shall consist of Two Hundred Fifty Trillion (250,000,000,000,000) shares of common stock, no par value. Effective date: May 20, 2005. Signed by Robert W Pearce.

Pay attention to the signing date. “MAY 20, 2005.” On May 23, the company issued a PR to halt its own stock, but SEC refused to do so. Why halt its won stock when they can dump trillions of trillion shares? Interesting enough? Why did the company backdate its amendment on May 25th? Because Robert W Pearce cannot convince SEC or NASDAQ to halt the stock???

Now someone would ask WHY/WTF the company issued the TRILLION shares to cover the short while the company blamed an individual and computer entry error. A source from West Palm Beach indicated that the person who sold short is CEO’s wife. So, what Robert W Pearce must do was to save himself from the trouble. He got a genius idea to increase share number to cover all forward split dividend and still have big chunk left for him. The source said the shorts are around 200,000 – 250,000 shares. If using 250,000 to calculate due bill, then 0.75 trillion shall be issued to new shareholders. After 250 trillion shares are issued and cover all due bills, then Bob will do R/S again to bring it back to 25 million common shares by use of 10 M to 1 reverse split. Hmmm… genius idea, isn’t it? One error Bob overlooked again is when the new 250 Trillion shares are making the way to the trading floor, SEC takes note. This morning SEC suspended GVRP trading.

Timeline of Robert W Pearce’s mistakes:

May 16, 2005; Bob directed TA to give F/S shares to the insider prior to May 23rd ex dividend date.

May 17-May 19, 2005; investors called Interwest to question the trades, the answer was that’s the way they do things. They did not care the ex dividend date set by NASDAQ.

May 20, 2005; Bob directed a MM to cover but the price was up to high, the MM won’t take the risk.

May 22, 2005; Bob issued a PR to tell investors not to trade its stock and meanwhile to "work" with SEC.

May 25, 2005; after two days negotiating with SEC, there was no progress made. Then Bob increased common shares to 250 Trillion to cover the shorts and he backdated the amendment to May 20, 2005

May 26, 2005; J Giordano Securities Group (JGIO) was hired to help GVRP to cover since NITE JEFF and other major MMs won’t take the risk.

May 27, 2005; SEC stepped in and halted the GVRP trading after they found GVRP’s amendment dated on May 25, 2005 about 250 trillion shares to prevent Bob Pearce's dumping.

Needless to say, SEC was stunted by the outrageous share structure. The head of DOJ was called in. Department of Homeland Security was called in. Task force was formed to investigae the fruad. What’s the next trick from Robert W Pearce? Of course a very genuine trick. But Bob may overlook it again and will be caught by SEC again. Robert W Pearce’s CEO days are numbered.

Stay tuned…

Disclosure: All about is my own opinion and should be treated as such. No violation in my freedom of speech. If you inquire the story, I plead 5th. Don’t blame me, I learned from UC.