U wanna lol.I was bored so I was doing some do do on TXXN.I looked @ the s8 they just filed for 12mil shrs?Then did a google on the the clown sammer who is the head honcho in that deal.Look @ the shit I came up with,needless to say the volume there today is me takin chips off the table lol.I should not of gone against my golden rule rule of not putting any $$$$$$$$$ into any deal that has a camel jockey involved,esp with a name like sameer lol
V3 GLOBAL, INC
OTC Pink Sheets - VGBL
Corporate Headquarters:
101 S. Coit Rd.
Suite 36-318
Richardson
TX 75080
Phone: 469-461-5800
info@v3-global.com
The Ones Responsible
Officers and Directors and Significant Players
Sameer Mohan
SEC FILINGS
Some Basic Facts (the ones we can find)
Shares outstanding - Transfer agent declines to disclose. No response from IR
Total Assets March 31, 2004-
Total Liabilities -
Revenues for quarter ending 2003 - "We grossed nearly $10 Million in 2003" claims Sameer Mohan
Total Net Loss for 3 months ended 2003 -
Accumulated Deficit -
Stock price when report was published September 7, 2004 $.40
Market capitalization
Date Complaint filed: September 7, 2004
Filed with: Enforcement Division of the SEC
Known actions to date - None
1 OCTOBER 2004 - In response to our report and complaint, V 3 Global has published their 2003 Income tax return on their website documenting the income claimed by V 3 Global in their previous press releases. We applaud V 3 for providing this information. Still, we would like to have them also tell either us or the SEC who the heck was sending out those illegal emails. You can read their tax return by clicking here.
--------------- begin initial report.
We tried to warn the SEC and the public in general when we sent in our comment letter to the SEC about regulation SHO but did they listen? BUT NOOOOOOOOOOO! Well, you have seen PWRM and you have seen CNDD, another one we didn't even report on but just look at the chart.
Just like we predicted, the scam artists are getting some traction and more money than ever is being taken from gullible investors. They are showing incredible gall in their tactics and are basically taking anything they can get their hands on, as long as the deal is properly structured and pumping it with complete disdain for the regulators or the investing public. A perfect case in point is V 3 Global, Inc.
Even though information is scarce, since V3 is a Pink Sheet company, this one is simply so awful, that we were affronted by exactly how gross and apparent this fraud is.
I was alerted to this scam when we received a spam that so grossly violated SEC regulations, that I immediately knew it was a scam without even looking at the company. Still, being the fanatic for detail and due diligence that I am, I went ahead and had a look and .. surprise.. surprise, I wasn't disappointed.
First let's look at this fraudulent press release, then we can look into Sameer.
SCAM EMAIL
Now that you can see the fraudulent way we were introduced to this company, let's look at the actual company and the nice folks who run it.
V3 Global, is the next in a series of companies created by Sameer Mohan.
What, you never heard of V3 Global? How can that be? You must not be paying attention because according to The Hindu, India's online newspaper:
"S. Mohan, president and C.E.O of V3- Global, one of the largest telecommunication companies in the United States [and its associate company V-3 Tele Services in India] that adopts state-of-the-art technology to create high returns by maintaining a low cost base, feels that Kochi portrays to be the ideal centre for relocating an existing system of operations."
He also speaks of building this company overseas and not in Dallas. Here is what was said:
"Companies like V-3 Global aims to expand from 200 employees to 2000 within the next 2 years. "It is a tremendous opportunity for development and employment, where instead of having 2000 people working at our office in Dallas we will have them working here, besides Indian employees appear to be more committed and aware of things than others", he says."
THE HINDU ARTICLE
As a side note, the article mentions an affiliate company V3 Teleservices in India. The website for www.v3-teleservices.com which IS the URL for this scam does not even exist at this time.
So, just how much is Sameer lying to you in order to get you to buy his stock? We already have determined he is a liar unless AT&T and Quest have been keeping one of their main competitors a secret. That was pretty easy and we have already proven that Sameer is using illegal tactics to pump VGAL stock. But what about the company itself? Did it really gross nearly $10 Million in 2003? There are no audits so we have to either trust Sameer or see what evidence we can come up with. (see 1 october above)
First, Sameer didn't mention this in his press releases but he is also the CEO of United Technological Systems, Inc. Apparently Sameer, UTS and V3 are closely tied to each other because they even get sued together. We discover this first when we look at the bankruptcy filing from July 2004 of UTS. That's right folks, Sameer is being sued left and right and V3 is right in the middle of it all.
United Technological Systems Bankruptcy
For those of you suffering from "linkphobia" (an unnatural fear of clicking on links) here are some highlights.
There is a $155,800 judgement against V3 Global and UTS and Sameer for payment of leased equipment
There is another suit for an unspecified amount against UTS, Sameer and V3 Global claiming FRAUDULENT TRANFSER.
There are also other cases which have settled listed on the Bankruptcy. It appears as if UTS basically transferred some or all of its business over to V3. This is further confirmed by this notice of transfer of some numbers listed to UTS and which were also transfered to V3.
Transfer
You will notice on the Bankruptcy that UTS's income in 2002 was a little under $2.5 million and only $15,000 in 2003. This suggests further that the operations were transffered out of UTS and perhaps into V3 at that time. Kind of makes you wonder, with all this litigation, just how Sameer managed to get the income of V3 up to almost $10 million doesn't it?
But wait.... there's more! It appears that Sameer didn't report everything to the Bankruptcy Court. Here is another case, this one for $259,000 against Sameer and V3 Global.
Reliable Communication v V3 Global and Sameer Mohan
Of course Sameer, is a versatile guy. He can get sued under an almost limitless number of corporate names.
Here is was sued for related kinds of non-payments by MCI under yet another company name "Carrier Conceptions International".
MCI v Sameer Mohan
It looks to us like Sameer hasn't found a bill yet that he wasn't willing to not pay. This of course raises an interesting question. If he cares this little about his obligation to creditors, what kind of tenacity is he likely to use in exercising his fiduciary responsibility to the suckers... er.. make that investors who purchase stock in his company?
So who is behind this fraudulent email?
We originally posted information about Stock Communications Group and Charles Bingham who is listed as the IR person for this company.
Mr. Bingham is a seasoned Investor relations person with an interesting history.
Charles Bingham operates a stock promotions company called Stock Communications Group. Charles and Stock Communications Group, previously has been in some light trouble with the FCC for illegal fax spamming. You can find mention of Charles Bingham and Stock Communications Group also has been accused in the past of email spamming as well.
FAX SPAM CITATION
EMAIL SPAM ABUSE FROM ITALIAN IP
All that being said, I have received communication from Mr. Bingham. I appreciate his candor and am willing to take his statement at face value and publish his response here. I appreciate greatly that he has taken the time to attempt to grow in compliance as lessons are learned and as regulations change in this environment. According to Mr. Bingham, not did he not send the fraudulent email.
I have not done any spam or e mail promotions in years, nor would I as the laws have changed pertaining to e mail. Nor have I ever sent e mail from Spain or any other country.
The company will post it's financials on it's site, and invites anyone to come and read them. Even though the company is a pink-sheet and is not required to do so. In the release the financials are quoted as unaudited and will remain so.
The stock e mail that you have posted is an old e mail and was sent compliantly, I disclosed my position and consequently did not sell into my promotion, even though I disclosed that I would. I put my name on it and did not hide the fact that I sent it out and wrote the report. I have never put out information that was not approved and signed off on by the company nor would I. I only work for the company and always get paid in cash or restricted stock from them. I never take free trading shares since 2001 and only take restricted. I work for the companies for a year and try to help them become successful in their business
SUMMARY
We start with a fraudulent email promotion being sent from Spain making inappropriate promises and failing to disclose compensation pursuant to Section 17(b) of the Exchange Act. .
This email is promoting a company run by a fellow who actually represented to the Indian media that his company was one of the largest Telecommunications companies in the US!
He also claims income for 2003 approached $10,000,000 yet none of the evidence we have gathered suggests this is true. Mr Mohan has assured us through Mr. Bingham that he will be publishing copies of his financial statements on his website and also has tax records to prove the income figure. We hope he will do this. We invite Sameer or any other reliable party to provide proof of this claim and we will post it as well if properly documented.
While Sameer is disclosing his financial information, I would also call upon him to identify the person or organization who sent the fraudulent spam email and to identify further the person who paid for the spam.
In the days proceeding this stock promotion and V3 Global entering the public market, it has been sued along with its principal several times with Judgments apparently exceeding $500,000. The contrast between the posturing presented in the press releases and the truth is quite striking and troubling.
As always, we will gladly, and in this case already have, provided a forum for any documented and verifiable comments by the company and will promptly and sincerely apologize for any errors in our facts. Our commitment is to bring forth the truth and the facts in the matter and we encourage V 3 Global to produce whatever documents they can to clear up our concerns and the concerns of what we assume are many VGBL shareholders.
Questions about our use of Copyrighted material on our site? Click here!
AI
