Any discussion on CRWV over here? This thing seems to one of the bigger promoted stocks (at least in the top ten of this month). The promo dollars are stated to be in the millions (years ago, that would amaze me, but not much these days on pinks). Not sure if the statements of "$ millions" is just to help the pump or if that much is really being paid. If true, that would mean many, many millions of dollars of losses for the ones taken by it.
Even though I could guess your thoughts on it Mr. Dummy, I'd still be interested in your written posts (or anyone else who cares to).
At just first look, it appears to be one of the bigger scams taking place, or attempting to be one of the bigger ones. The many promos and mailers I won't bother to clutter up the board with, but here's the pumpanddump mailer on it thats floating around.
August 28, 2011: The latest in a multitude of Mexican based gold mining scams is Dane Peterson's (if that's his real name) Crowne Ventures, Inc. (CRWV), a deal that has no filings whatsoever with the SEC. We're not even sure how this sham went public as we could not find a registration statement or a reverse takeover transaction. This alone should be warning enough to keep potential suckers away from this deal.
What we did find was an Initial Disclosure Statement, filed on March 31, 2011 and indicating that the company was in the video conferencing business. It didn't take long for the principals to figure out that the real money was in gold mining schemes.
The first bit of news we found on CRWE is a vague and confusing press release issued by the company on August 22, 2011 announcing a supposed reduction of the number of authorized shares from 1,000,000,000 to 550,000,000. What does this announcement even mean? Authorized shares is not an indication of actual shares, only the number of shares that the Board of Directors may eventually issue. According to the initial disclosure statement, there is 50 million shares outstanding, a long way from 500 million or 1 billion, so that press release, which was intended to be impressive, is in fact meaningless. There is no documentation indicating how the initial shares were created,issued or what value was received for them.
We find it troubling that there is no documentation regarding the conversion rate of the preferred shares into common shares. Penny stock shams such as this one, use the issuance of preferred shares to hide the fact that more common shares will eventually be retained by the insiders, usually after they have sold their existing stock to the public under a Pump & Dump scheme such as the one going on now.
CRWV is making the preposterous claim that it holds 9.5 million tons of ore sampling as high as 8.3oz of gold per ton of ore. To understand how ridiculous this claim is, consider that high grade ore by the world's biggest producers is measured in grams per ton, not ounces. The Hemlo gold find in Northern Ontario, one of the most important North American gold finds ever, contained ore at 7 - 8 grams of gold per ton or about .25 - .3 oz per ton of ore. So CRWV is trying to have you believe that it's project contains 35 times more gold than one of the biggest gold producing regions ever!
And look how quickly this deal was put together! In a period of just two days, CRWV found this project, took it over (in an unspecified transaction), conducted testing and reported these spectacular lab results. WOW! God's own 6 day project, pales in comparison!
We could not find any history on newly minted President and CEO Dane Peterson, the architect of this amazing discovery. Does he even exist or is "Peterson" just a nom de plume? Sidekick, Justin Mohl, who purportedly has over 45 years experience as a geologist for various American and Canadian companies, was last reported to be a tour guide. Really? Tourism must be down if he has to resort to being a geologist on a multi billion dollar gold play (notice that our tongue is firmly placed in our cheek).
Peterson wants you to believe that CRWV, in a period of just two days, suddenly has it's hands on billions of dollars worth of gold that the world's biggest miners missed. And all of this was vended into an undocumented pink sheet company whose market cap is only $50 million. Ah, but that's not all!
It only took Superman, as we will now dub Mr. Peterson, another two days to expand operations on the property and acquire even more property that reportedly has even higher grade ore. What what a talent Superman is! The major gold producers of the world can't work this fast!
In further developments, three bears were reportedly found sampling porridge and a jolly old man in a red suit was busy preparing to deliver toys to children during the upcoming Christmas season.
We would not be surprised if this one became the subject of a temporary trading halt very soon. Even the SEC can't let this one go by and will probably require filings with current and accurate information as was the case with UnionTown Energy, Inc. (UTOG).
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