Bayport International Holdings Inc. (BAYP)

[thecrusher2011]

According to the IBOX, Lou Porter will be running things? not so fast....

"On December 15, 2010 a Special Meeting of Shareholders was held and with approval by
94% of the voting stock the Company elected to enter into an agreement with Bayport
Corp., Hominy, Oklahoma, whereby Bayport would convey to the Company significant
interests in several oil and gas projects in Oklahoma and Texas, a 90% to 100% interest
in two mining properties in Utah and Nevada, and other less significant assets. Based on
the agreement by Bayport the officers and Directors of Bayside resigned effective at the
close of the meeting and the officers and Directors of Bayport were elected to assume the
position of the officers and Directors of Bayside with Gordon H. Johnson remaining on
the Board of Directors. However, in early May, 2011 it became apparent that neither
Bayport nor their officers or Directors had actual ownership of the assets to be conveyed,
and merely had verbal agreements to acquire them. Further, it was discovered that the
newly elected Chief Executive Officer, Louis Porter, had a prior criminal conviction that
was not disclosed. Accordingly, Mr. Johnson, acting as the Trustee of the Managing
Member of DZ Energy, LLC called for a Special Meeting of Shareholders that was held
on May 11, 2011. As a result of the actions taken by a 94% majority of the voting shares
of the Company the newly elected officers and Directors were removed from office, the
transaction with Bayport Corp. was rescinded, and Mr. Johnson was re-elected as the
Chairman of the Board, President and Chief Executive Officer of the Company.
Additionally, James T. Ling was elected as Vice President and Director, and David
Dischiavo was elected as a Director. No shares were issued in the Bayport transaction."
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=54550