Recycle Technologies, Inc.(fka RCYT)

[crystal clear]

UH OH! NO DUMMY has posted on his Fraud Research Board about RCYT!

nodummy Share Thursday, August 04, 2011 10:32:27 AM
Re: crystal clear post# 13918 Post # of 13942

RCYT looks like a front loaded pump and dump on a basically dead shell to me.

A few pumper groups (or maybe they are all connected) organized a pump on the stock and it shot up yesterday

Some websites were involved in the manipulation:

StockRockandRoll, StockLockandLoad, and PennyStockLocks

Submitted by Christopher Bason on Wed, 08/03/2011 - 22:04.
StockRockandRoll, StockLockandLoad, and PennyStockLocks rocked the penny stock market today with our pick of container and green home manufacturer Recycle Tech, Inc (RCYT) at 9:15 a.m. this morning.
RCYT immediately took off from its opening bid below one penny at .002 cents and blasted all the way to .11 cents, for an incredible gain of +5,500.00% in just a few hours!!!
The initial buying interest at the market open that was generated by our recommendation of RCYT showed up on penny stock trader’s alert screens, and by 10 a.m. RCYT was trading above .01 cent with word spreading that RCYT was in play. As more penny stock traders became aware of RCYT’s price surge, additional buying interest from momentum traders propelled RCYT above .03 cents!

pennystocklocks

300 Claremont Ave
A4
Verona, New Jersey 07044
United States

Registered through: GoDaddy.com, Inc. (http://www.godaddy.com)
Domain Name: PENNYSTOCKLOCKS.COM
Created on: 27-Apr-11
Expires on: 27-Apr-12
Last Updated on: 02-May-11

Administrative Contact:
McConnon, Robert [e-mail]
pennystocklocks
300 Claremont Ave
A4
Verona, New Jersey 07044
United States
973-303-8818


And a certain forum on this site was also involved.


RCYT is basically just a dead shell at this point.

It is a Colorado business entity that hasn't done a filing since 2008:

http://www.sos.state.co.us/biz/BusinessEntityHistory.do?quitButtonDestination=BusinessEntityDetail&pi1=1&masterFileId=20051178570&srchTyp=ENTITY&entityId2=20051178570&nameTyp=ENT

It went public in 2007 with Bruce Capra as the CEO

On July 7, 2009 Capra bought 20,129,800 shares for $20,129.80 ($.001/share) making the outstanding share count at that time 24,276,400.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6692731

On January 27, 2010 Joseph Meuse came along (famous for taking over dead companies then reselling them) and bought those shares from Capra plus a few more - 23,229,490 in total representing 97.5% of the outstanding share count at the time through his company Belmont Partners. As is typical in Meuse transactions we are given no purchase price for his shares.

23,229,490 would be 97.5% of 23,825,118 which doesn't seem quite right - more likely the O/S was still around 24,276,400

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7012793

Joseph Meuse then assigned himself as temporary sole officer of the company and issued a bunch more shares.

On January 27, 2010 23,825,118 represented 97.5% of the O/S

On February 16, 2010 when Meuse sold the shell 23,669,490 shares represented approximately 48% of the O/S

Meuse essentially doubled the his ownership after taking over issuing himself 23,198,510 more shares directly (not through Belmont Partners) for an undisclosed amount:

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7065999

Then on February 16, 2010 Meuse sold half his take (the shares controlled by Meuse through Belmont Partners) - 23,825,118 for $251,811 (no doubt a very nice profit) to Ryan Gonzales owner of Green Building & Engineering Contractors, LLC

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7070066

The form 4 filed by Meuse also shows that he sold his privately owned 23,434,000 shares for approximately the same amount:

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7065999

Green Building & Engineering Contractors, LLC was a brand new Florida business entity just formed on January 19, 2010

http://sunbiz.org/scripts/cordet.exe?action=DETFIL&inq_doc_number=L10000006612&inq_came_from=NAMFWD&cor_web_names_seq_number=0000&names_name_ind=N&names_cor_number=&names_name_seq=&names_name_ind=&names_comp_name=GREENBUILDING&names_filing_type=


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Despite all the share swapping going on nobody took the time to do any filings with the Colorado SOS. The company remained delinquent the entire time (since 2009).

No new SEC filings have been filed.

No press releases.

We are left to wonder if the transaction for the purchase of the shell has still yet to be completed.

The company seems to be in limbo except for the current Pump & Dump being run on the ticker.


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Whatever the case, the price movement on the stock yesterday wasn't based on news or filings. It was strictly manipulation by some pumpers and so there is a huge risk that people following that pump will get taken for lots of money.