Mainland Resources, Inc.(fka MNLU)

[Ecomike]

Fred, only problem with that Form 4 is that Brent Pierce has already been convicted of selling huge lots of shares through Cayman Island offshore operations by Canadian Authorities, and is now under investigation for the same in the US based on the latest info. And now, as of last night we now know that Brent Pierce was also nailed in Canada 15-20 years ago for white collar stock fraud:

Exeter, however, paled by comparison with colleague Frank Balfour's Bu-Max Gold Corp. scandal.

In mid-1989, Bu-Max declared it had suddenly discovered much of its money was missing, and Mr.Pierce soon emerged as a key target in investigations by the VSE and the BCSC. In a negotiated settlement in June, 1993, the BCSC banned Mr. Pierce for 15 years. The sweeping ban prohibited the promoter from becoming or acting as a director or officer of any company that provides management, administrative, promotional or consulting services to a reporting issuer.

Besides diverting funds from Bu-Max, Mr. Pierce admitted he tendered false documents to BCSC investigators during their probe.

The BCSC's 15-year ban came two months after the VSE abruptly halted trading in yet another dubious Pierce promotion, Cost Miser Coupons (International) Inc., when Vancouver Sun reporter David Baines revealed the promoter was an officer of Cost Miser's main subsidiary, in violation of a temporary ban imposed by the regulator. Cost Miser's main products, purportedly developed by Mr. Pierce, were cash register tapes with coupons printed on the back, interspersed with pictures of missing children.

All of this might keep a lesser man down, but not Mr. Pierce. In early 1993, with his Cost Miser promotion about to blow up, the controversial promoter was hard at work setting up Ultra Pure Water Systems (Canada) Inc., which subsequently listed on the former Alberta Stock Exchange in
March, 1994.

Ultra Pure soon proved to be an ultra-dirty offshore rig job. The promotion blew up in April, 1995, when the ASE halted trading, leaving $2.36-million in unpaid debits at seven brokerages in accounts linked to Mr. Pierce and his associates. Merit Investments of Toronto was hit hardest, with a $1-million debit. Rampart Mercantile bought the weakened 35-year-old brokerage in 1997, later changing its name to Rampart Securities, which itself was shut down by regulators this August.

When Merit filed its million-dollar debit suit in April, 1995, (Maybe we can find more evidence with a search for "Merit & Pierce") Stockwatch revealed the defendants were close associates, and presumably fronts, of Mr. Pierce, the first suggestion that Mr. Pierce might be involved behind the scenes. A subsequent 13-month criminal investigation by the Commercial Crime Section of the RCMP featured searches of 13 brokerage firm offices in Vancouver and Toronto, with Mr. Pierce and his associates as the key subjects.