Bryn Resources Inc (BRYN)
The Hijacking
BRYN was once an SEC reporting company registered in Colorado called RnetHealth Inc.
The RnetHealth Inc got abandoned in 2001. The last SEC filing done by RnetHealth Inc was an 8K on October 19, 2001 announcing to shareholders that the business entity was broke and was filing for Chapter 11 Bankruptcy protection.
On October 1, 2002, the state of Colorado dissolved the entity because it hadn’t filed its two previous annual reports and was delinquent in its taxes.
This is where the SEC dropped the ball. the RnetHealth Inc shell should have been revoked for not doing any required SEC filings and not keeping its business license current. Instead the SEC let the RnetHealth Inc shell continue to trade over the next 7 years leaving the door open for anybody to come in and hijack the shell and that is exactly what happened.
Robert Stevens came in and hijacked the RnetHealth Inc shell. Robert Stevens has a long history of hijacking abandoned shells including the VLNX shell (see our VLNX report) then passing them on to crooked people to use for pump&dump schemes. The reason why these hijacked shells usually end up in the hands of crooked people is because honest people wanting to run a legitimate business look for clean shells to purchase even though the price is usually higher.
Robert Stevens can be linked to such companies as Hoss Capital LLC, Technology Partners LLC, and SHC Capital LLC and is a former officer and very large shareholder in Marine Exploration Inc (MEXP).
Robert Stevens also runs a transfer agency called X-Clearing Corp located in Denver, Colorado together with his wife, Jodi K Stevens. X-Clearing Corp is a wholly owned subsidiary of Fincor Inc (FINC). Here is their website. Here is a list of publicly traded companies they currently service. Jodi K Stevens is currently the CEO of Forever Valuable Collectibles (FVBC).
More on Robert Stevens and Paul Enright
Robert Stevens originally came in and hijacked the RnetHealth Inc with his partner, Paul Enright (Hoss Capital LLC, Technology Partners LLC, Marine Exploration Inc) on March 31, 2005.
Here is a great article about MEXP that mentions Stevens, Enright, and many of their entities. Funny that the transfer agent for MEXP was Steven’s, X-Clearing Corp and they had a controversy with a promoter that was paid in shares.
For whatever reason (maybe they couldn’t find a buyer for the shell) they let the shell go delinquent again and once again get dissolved by the state of Colorado.
On January 11, 2008, Stevens and Enright returned to once again reinstate the dead shell. This time they would end up finding a buyer = Rocco DiBenedetto.
Paul Enright is also a Director for Sierra Resource Group Inc (SIRG). If you find Paul Enright’s name attached to a Colorado entity that had once gotten dissolved, but is still publicly traded you can pretty much bet that he and Robert Stevens hijacked the abandoned shell and it will probably get passed off to be used for a dirty pump&dump in the future.
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The passing of the shell
This time after hijacking the shell, Robert Stevens and Paul Enright were able to find a buyer for the shell, Rocco DiBenedetto.
On February 11, 2008, Robert Stevens filed a form 15 voluntarily terminating the registration of the RnetHealth stock so that the shell wouldn’t have to report to the SEC any more. Technically this was grounds for a suspension since you aren’t allowed to terminate registration of your stock unless you are current with your SEC filings, but the SEC dropped the ball again.
Now with the shell hiding on the non-regulated OTC, Rocco DiBenedetto would have any easier time executing his pump&dump scheme.
Enter Diane Dalmy. On November 25, 2008, Diane Dalmy did a filing with the Colorado SOS changing the name of the entity from RnetHealth Inc to Bryn Resources Inc and raising the authorized share count to 100,000,000. Four months later in early April of 2009, Dalmy would file to raise the authorized share count again to 250,000,000. Diane Dalmy is a banned SEC attorney that can be linked to several scam companies and several dirty penny stock individuals.
On November 25, 2008, BRYN did a 1:20 reverse split to wipe out all the previous shareholders so that the new owners of the shell could increase the value of their future holdings.
