Global Earth Energy Inc. (fka GLER)

[nodummy]

Just the first of the dominoes to fall.

The Life Cycle domino falling is going to provide the excuse to finally put an end to the LB Tim Co Ltd financing charade.

GLER has always stated that part of that $100,000,000 (can't even type that big number without chuckling) was going to get used to invest in the Life Cycle joint venture agreement. Now that the Life Cycle joint venture is terminated that helps GLER justify the cancellation of the LB Tim Co Ltd agreement that was signed way back in January and has been extended over and over again and is now due to expire on December 31, 2011. It just falls in line with past financing agreements that were also canceled (AGS Capital and Duchess Opportunity Fund)

After the LB Tim Co Ltd. domino falls that will knock down the Modern Coal domino which will knock down the Samuel Coal domino.

All very predictable.

To be honest the Life Cycle agreement being terminated isn't even worth a post from me because GLER is such an obvious scam, but I wanted to point out how rich Andrew Madenberg got off of all of these failed agreements.

Andrew Madenberg is the person that controls the Life Cycle entity. Andrew Madenberg also owns Strategic Alliance Consulting Group, Ltd.

The 10K filing coming up should reveal the many tens of millions of more shares issued to Andrew Madenberg for helping to put together all of these doomed to fail before they were even signed agreements, but going back through the filings that are currently available does give a pretty good run down on the way Andrew Madenberg has been set up to makes lots and lots of money off of the GLER scam.


Back on November 22, 2010 GLER signed a joint venture agreement with Reflora do Brasil, a Brazilian company controlled by Andrew Madenberg and his associates and partnered with another Andrew Madenberg company, Lifecycle.

http://www.sec.gov/Archives/edgar/data/1121901/000109181810000542/ex21.htm

When GLER first signed this deal they put out press releases that touted revenues in the hundreds of millions over the next decade with the potential to top a billion dollars.

The terms of the joint venture agreement went like this:

GLER would get 40% of the revenues

Reflora do Brasil got 9,500,000 shares of GLER stock

Andrew Madenberg got 62,642,973 shares of GLER stock

Madenberg's buddy, George Sinnis also got 2,000,000 shares of GLER stock plus an additional 3,600,000 shares for his roll in helping to set up the joint venture agreement.

http://www.sec.gov/Archives/edgar/data/1121901/000109181810000542/ex22.htm

Also as part of the agreement GLER agreed to pay Andrew Madenberg $30,000 a month for 4 months for a grand total of $120,000. Since GLER has always been a company with no cash or revenues they put right in their filings that the would use public offerings to raise the money to pay Andrew Madenberg. Yes he is being paid through dilution.


All of this was obviously preplanned a bit because GLER had already filed an S-8 to register 50,000,000 shares to be issued for consulting services:

http://www.sec.gov/Archives/edgar/data/1121901/000109181810000485/gler110810s8.htm


A little bit before Madenburg's four month salary was due to expire, GLER signed him to a new consulting contract.

On January 26, 2011, GLER extended Madenburg's consulting contract for another 12 months until January 26, 2012. GLER also issued Madenburg 6,000,000 shares for his role in helping to set up the Life Cycles joint venture agreement.

The consulting agreement extension showed up on the same 8K as the original LB Tim LTD Co. financing agreement:

http://www.sec.gov/Archives/edgar/data/1121901/000109181811000039/ex103.htm

Madenburg's buddy, Sinnis also got a 12 month consulting contract on January 26, 2011 and 6,000,000 shares in consideration of services:

http://www.sec.gov/Archives/edgar/data/1121901/000109181811000039/ex102.htm

Since GLER has never had any revenues these consulting salaries will end up being paid in shares.

A new S-8 was filed on May 24, 2011 for yet another 100,000,000 future consulting shares:

http://www.sec.gov/Archives/edgar/data/1121901/000109181811000297/gler052011s8.htm

The purpose of this Plan is to enable the Company, to promote the interests of the Company and its stockholders by attracting and retaining non-employee consultants capable of furthering the future success of the Company and by aligning their economic interests more closely with those of the Company’s stockholders, by paying their retainer or fees in the form of shares of the Company’s common stock.

How is paying "consultants" with shares looking out for the shareholder's best interest? Again nothing successful has ever been achieved by this company despite paying out tens of millions of consulting shares. Not a penny of revenues ever. The only interest that is being looked out for in my opinion is the interest of the insiders of this company and the people receiving the consulting shares.


On 9/26/11 another S-8 was filed registering another 40,000,000 shares to be issued to consultants:

http://www.sec.gov/Archives/edgar/data/1121901/000109181811000551/gler09262011s8.htm



The 10Q's have been very vague about how many shares have been getting issued to Madenberg and Sinnis for their rolls in setting up all of these fraudulent doomed to fail before they were even signed agreements. We are never told how much each person is making each month for consulting services.

We do get some pretty information from the last 10Q. The 10Q shows some very disturbing accrued expenses do to consulting fees.

$950,700 in consulting fees just for the 3 months ending May 31, 2010 and $1,461,855 in consulting fees for the 9 months ending May 31, 2011.

And since GLER has no cash to pay those fees those fees will accumulate and then end up becoming convertible debt Notes which will probably become discounted shares issued to the consultants to dump on the GLER shareholders.



Since the Medenberg and Sinnis current consultant agreements expire on January 26, 2012 (unless they get renewed), I predict that the dominoes will fall slowly, but by January 26, 2012 there will be nothing left. No financing agreement, no Modern Coal, no Samuel Coal, no nothing. Mendenberg and Sinnis will split with lots of money owed to them for their rolls in helping to put together all of these doomed to fail before they were even signed agreements over the last 14 - 15 months and will continue to make money off of the shares they are issued for past consulting services for a long time to come. Their legacy in helping to destroy the GLER shareholder value will continue well after they are gone.