Funr (FUNR)

[stonsetr]

Interesting, but not surprised.

http://www.sharp-v-cubabev.info/2011/04/alex-procopio-salt-of-earthits-getting.html

Sharp vs
Cuba Beverage Co. (CUBV)

Thirsting For The Truth
This site is intended to make the public aware of my lawsuit against Cuba Beverage Company and its CEO Alex Procopio for the schemes perpetrated in order to defraud the public. Join me as we examine the history of this company and the background of Mr. Procopio. Follow me on Twitter in order to get updates to this lawsuit and my other endeavors.

Click here to view a copy of the current complaint filed in California Superior Court.
Tuesday, April 26, 2011
Alex Procopio: "Salt of the Earth"...It's getting a little too salty in here.
Defendant Christopher Laursen, aka Quinnradio, a Cuba Beverage promoter, referred to CEO Alex Procopio in an April 15 Investors Hub posting as "salt of the earth". This was in spite of the fact that he had already learned that the company's Mira Este Court "Global Headquarters" was in fact, an auto body shop and in defense of Mr. Procopio following a warning from website www.pumpsanddumps.com that the CEO had a judgment against him held by JP Morgan Chase for Breach of Contract. That lawsuit followed Mr. Procopio's default on a line of credit that he personally guaranteed and was issued to his one man show, American Trading Services, LLC, a failed entity that Alex proudly wears as a badge of honor. More concerning than the judgment itself, is the fact that Alex did not even show up to defend the lawsuit. The judgment was obtained in default, something Alex has a habit of doing, as we shall see in the next article.

"Salt of the Earth"
From the complaint, it appears that Alex maxed out his line of credit in a hurry and was late in payments almost as quickly. Although he generously "made payments from time to time", by November 2008, 16 months after the line of credit was opened, he "failed, refused and neglected to make payments". Now we're not talking about a lot of money here; at least not to a world traveling, international business dealing, friend of the USDA, "salt of the earth" type. We're talking about $40,000 which certainly shouldn't be a lot of money for the CEO of a public company that at one time had a market cap of $15 million; and, certainly not enough to jeopardize his reputation, is it? Now however, the judgment has built up to $106,136.49.

A note: I have a line of credit of $30,000 at an interest rate far greater than the one that was afforded to Mr. Procopio. When I am maxed out, my monthly payments are less than $500.00. This means that Alex's payments couldn't have been more than $600.00 per month. He didn't make them. Is this the kind of guy that should be heading up a public company?
Posted by George Sharp at 3:40 PM
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Labels: alex procopio, american trading services llc, christopher laursen, cuba beverage company, cubv, quinnradio
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? 2011 (4)
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Trademark Group Collects From Cuba, Thanks To Me
CEO Alex Procopio Fails to Reveal Judgment Against...
Alex Procopio: "Salt of the Earth"...It's getting ...
Would You Like Your Porsche Painted Along With Tha...

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