Daleco Resources Corp (fka DLOV)

[virgule]

----- Original Message -----
From: marv eatinger
To: [e-mail]
Sent: Friday, October 04, 2002 3:07 PM
Subject: Fw: SYNOPSIS OF DALECO RESOURCES CORP.(FORMERLY UNITED WESTLAND RESOURCES LTD.) OTC-DLOV


Helen: (City Hall)
I am enclosing this email and a copy of the press release that led me to Yerington, Nevada. It might give you some idea as to what I have been up against over these last 17 years.
Sincerely,
Marv Eatinger (thanks for your help!)


----- Original Message -----
From: marv eatinger
To: [e-mail]
Cc: [e-mail]
Sent: Saturday, July 13, 2002 6:49 PM
Subject: Fw: SYNOPSIS OF DALECO RESOURCES CORP.(FORMERLY UNITED WESTLAND RESOURCES LTD.) OTC-DLOV


Please forward this email to the Honorable Larry D. Thompson:

Dear Sir:
I would like to suggest that your recently formed corporate fraud swat team take a look at a public company named Daleco Resources Corporation. Daleco Resources Corporation will set your swat team free! Daleco will give your group "hands on" experience that covers every aspect of corporate fraud. Daleco's violations of the fraud statutes go straight to the bowels of the system. If I were a college professor teaching a course on corporate fraud, Daleco Resources Corporation would be the perfect foundation from which capitalism could be dissected and discussed.

Sincerely,
Marv Eatinger

----- Original Message -----
From: marv eatinger
To: [e-mail]
Sent: Sunday, February 10, 2002 10:40 AM
Subject: SYNOPSIS OF DALECO RESOURCES CORP.(FORMERLY UNITED WESTLAND RESOURCES LTD.) OTC-DLOV


Please forward this e-mail to Richard C. Breeden: Thank You

Dear Mr. Breeden:
I saw you on Fox news and you stated that the Enron mess should not be blamed on the SEC. I am enclosing a copy of an e-mail that concerns a public company named Daleco Resources Corporation, about which I submitted an 86 item complaint package to the SEC in August of 1989. If you read this e-mail you will see that the sum of the parts is equal to the whole, and the SEC is a big part of the Enron debacle.

If you consider the professional ethics that are involved in the fraud case of Daleco Resources Corporation, it is not hard to understand the blatant professional attitude that caused the Enron debacle! Daleco Resources Corporation is every bit the news story that Enron is, and probably in some ways more egregious because this fraud case is a conspiracy by professionals (Including SEC employees & NASD employees) that exposes their basic attitude when it concerns their mandate to guard against this type of financial misconduct!
Sincerely,
Marv Eatinger (just another stockholder in a public corporation)


Daleco Resources Corp--The Anatomy Of A Fraud:

I have done everything possible to bring a resolution to this case of tax fraud and securities fraud. I have been working on this case for 15 years. In August of 1989 I filed an 86 item complaint package with the SEC. Since that time I have sent more than 200 certified letters, E-mails, registered letters and Federal Express letters to everybody who has anything to do with white collar fraud in the United States. I have sent packages to two of the top class action (securities) law firms in the United States. The first, sent in September of 1992, Milberg Weiss Hynes & Lerach (in care of William Learch) was apparently more suited to chasing ambulances and after about two months returned my four pound package of documents. The second, Robert A. Skirnick never replied to my Federal Express letter and has held my package of documents for the last two years! This case is a conspiracy by professionals (including at least one former SEC administrative lawyer and former or present NASD employees) to circumvent the regulatory system for publicly traded stocks in order to line their own pockets!

I get the feeling that this case might just be to agonizing for the Federal Government to prosecute to the fullest extent of the law!


THE CASE:


In 1977 Daleco Partnership ( two companies incorporated in Nevada with a parent co.(Daleco Resources Ltd) incorporated in Vancouver, British Columbia ) set about to delineate an oil & gas field in Texas. United Westland Resources Ltd., at that time, was a public co. on the Vancouver Stock Exchange which was incorporated in Vancouver, British Columbia. Daleco Partnership raised money through United Westland Resources Ltd. by selling stock, putting down oil & gas wells & then borrowing money ( loans ) using the successful wells as collateral for the loans. In 1979 Daleco Partnership invented a co. called Reef Resources Corp. which was incorporated in Vancouver, BC. Reef had a subsidiary in Nevada called Reef Resources. Daleco Partnership took all the dry holes & worthless leases that were a result of delineating the Texas field & sold them into Reef Resources through an 8 million dollar common stock issue on the Vancouver Stock Exchange. Since Daleco Partnership never had much, if any, income & was using full cost accounting for oil & gas assets, this 8 million dollars of worthless properties would not have had a reduced tax basis due to amortization & depletion expense. So here you have a partnership that never had any of its own money invested, and yet was able to gain 8 million dollars on the sale of worthless properties. No capital gains tax would ever be paid because the tax basis on Daleco Partnership books was 8 million dollars & that is the price Reef Resources paid for these worthless properties!

THE REST IS HISTORY:

a. In 1980 Daleco Partnership borrowed approximately 6 million dollars & put these loans on United Westland Resources Ltd. parent co. books in Canada ( United Westland also had a wholly owned subsidiary in Nevada named Westland Resources Corporation).
b. In 1981 an illegal pooling of interest amalgamation between United Westland parent co. in Canada & Reef Resources parent co. in Canada was completed. Nevada subsidiaries of these two parent companies were left separate until they were illegally merged (using a merger of form rather than substance) in Nevada on Jan. 25, 1984.
c. The pooling of interest was the accounting cover for the 6 million dollars in loans that Daleco Partnership ended up with but were put on United Westland parent co. books in Canada. Worthless dry holes & leases from Reef were used as debts to offset the 6 million dollars in loans that Daleco Partnership stole through United Westland parent co. books.
d. Oct. 1, 1983 changed United Westland parent co. books in Canada to successful efforts accounting & wrote off 8 million dollars of worthless properties from Reef 1981 pooling of interest.
e. From 1981 through 1984 United Westland subsidiary in Nevada would forfeit back to Daleco Partnership 8 million dollars worth of good properties. This would balance the subsidiary books in Nevada to the parent co. books in Canada after Reef(Nevada) & Westland Resources(Nevada) were illegally merged on January 25, 1984.
f. On Oct. 1, 1984 Westland Resources (Nevada) changed from full cost accounting to successful efforts accounting. Since the merger took place on Jan. 25, 1984 and the fiscal year started on Oct. 1, 1983, Westland Resources (Nevada) would absorb Reef's 8 million dollars of worthless properties into its amortization & depletion base.

TO SUMMARIZE:

1. Daleco Partnership gained 8 million dollars & paid no capital gain taxes from the sale of worthless assets to Reef in 1981. United Westland got worthless properties & Daleco Partnership got 8 million dollars.
2. 8 million dollars of worthless properties were written off Canadian parent company books & added in on the Nevada subsidiary books. This means that United Westland would have 16 million dollars in well costs that were a fraudulent result of the Reef pooling of interest amalgamation in 1981.
3. 8 million of good properties were forfeited back to Daleco Partnership in order to balance United Westland subsidiary ( Nevada ) books to offset the 8 million dollars of worthless properties that were added in by the merger with Reef (Nevada) on Jan. 25, 1984.
4. Daleco Partnership got 6 million dollars in loans & cash that United Westland ended up paying for with forfeiture of assets to the Union Bank of California.

The stockholders of United Westland Resources Ltd. (now Daleco Resources Corp. OTC--DLOV) ended up with nothing!

My question is, did I reinvent the wheel with this case or was this standard business tactics in the 1970's & early 1980's?


THE PLAYERS:

1. COOPERS & LYBRAND--TORONTO--AUDITORS FOR UNITED WESTLAND & DALECO RESOURCES CORP. (FROM 1977 THROUGH 1996)

2.COOPERS & LYBRAND--UNITED STATES--AUDITORS FOR DALECO PARTNERSHIP (two Nevada corporations-Amiroil International 100% owned by Dov Amir & Coast Exploration Company 100% owned by Louis Erlich)

3.SHEA & GOULD LAW FIRM (DISSOLVED IN JAN. 1994 AT A SPECIAL NIGHT MEETING OF PARTNERS. ONE WEEK AFTER RECEIVING THE THIRD CERTIFIED LETTER THAT I HAD SENT THEM OVER A PERIOD OF TWO YEARS. THEY NEVER ANSWERED ANY OF MY CERTIFIED LETTERS CONCERNING DALECO'S SEC FILINGS).

4. MARIO V. MIRABELLI (now with Patton Boggs--one year ago was with Baker Hostetler) MANAGING PARTNER SHEA & GOULD UNTIL JAN. 1992. (MANIPULATED UNITED WESTLAND SEC FILINGS INTO DIFFERENT BRANCHES OF THE SEC DIVISION OF CORPORATE FINANCE TO COVER UP THE FRAUD)-MARIO V. MIRABELLI WAS AN SEC ADMINISTRATIVE LAW LAWYER FROM 1969 THRU 1973!

5. CERTAIN NASD EMPLOYEES WHO WERE RESPONSIBLE FOR REPORTING NASDAQ LISTED QUOTATIONS FROM JAN. 1981 THRU SEPT. 30, 1984. (UNITED WESTLAND RESOURCES LTD. NEVER REGISTERED WITH THE NASDAQ SYSTEM FROM JAN. 1981 THROUGH SEPT. 30, 1984. THEREFORE, THEY COULD NOT LEGALLY HAVE BEEN LISTED ON NASDAQ. YET, THEY WERE ABLE TO TRADE THEIR SHARES AS IF THEY WERE LISTED ON THE NASDAQ SYSTEM FROM JAN. 6, 1981 THROUGH MAY 31, 1984 WHEN THEY FILED A 20F REGISTRATION WITH THE SEC). This enabled United Westland Resources Ltd (now DALECO) to not file any financial reports either in Canada or the United States for the fiscal years of 1979, 1980, 1981 & 1982.

6. AND OF COURSE THE MANAGEMENT OF UNITED WESTLAND RESOURCES LTD. (NOW DALECO RESOURCES CORP.--OTC:DLOV).

7. A COUPLE OF CANADIAN LAWYERS IN TORONTO & VANCOUVER!

NOTE: I have all the documents to prove these allegations!
====================================================

YERINGTON, HEVADA (SEE ABOVE EMAIL - HELEN AT CITY HALL)


3. Daleco Resources' Subsidiary, Clean Age
Minerals, Inc. Announces Initial Mineral
Purchase Commitment
Wednesday October 2, 2:23 pm ET

ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Oct. 2, 2002--Clean Age Minerals, Inc.,
a Wholly Owned Subsidiary of Daleco Resources Corporation (OTC:DLOV - News).

Gary J. Novinskie, Chairman of Clean Age Minerals, Inc. (CAMI") and President of
Daleco Resources Corporation announced today the receipt of a purchase order from
Terra Industrial Management Company for the delivery of sixty four thousand (64,000)
tons of Zeolite minerals from CAMI's Marfa, Texas deposit. Terra Industrial
Management Company, a mineral recovery and processing company located in
Yerington, Nevada issued the purchase order. Mr. Novinskie added that the
commitment calls for a net price to Clean Age of $20.00 per ton, in-situ, which
represents a price net of all extraction, processing and shipping costs.

The above sale of (64,000) tons of Zeolite minerals for $1,280,000 never appeared in any of Daleco Resources Corporation financial statements. Nor, did the sale ever appear in any subsequent press relaese as being canceled! At the time of this sale Terra Industrial Management Company did not have a license to do business in Yerington, Nevada and disappeared from Nevada shortly thereafter!