In 2014, Rhonda Keaveney started hijacking public shells via Small Cap Compliance, LLC. She has been using attorney Peter L. Chasey, who was also involved with one of her former private corporate restructuring firms—Shareholder Advocates, LLC.
In my opinion, she hijacks shells just to flip them for a profit. It costs very little in court filing fees to “steal” these shells, which enables them to set up convertible debt using the legal fees charged for services rendered. This solidifies the infrastructure for an insider enrichment P&D scam.
The following statement from the most recent Quarterly filing is highlighted in yellow.
On March 27,2018, the Company executed a Promissory Note (the “Note”) payable to Jeffrey J. Parker, in the principal amount of $73,978. The Note has a term of five (5) months and bears interest at 5% annually. The balance owed at December 31, 2018 is $73,978.
Now, is it a coincidence that this note was converted just ONE DAY before MLHC acquires a majority interest in SQCC?
From “Subsequent Events”:
On February 19, 2019, the Company issued Jimmy Wayne Anderson 786,155 shares of its common stock as payment against a Promissory Note issued to Mr. Anderson on April 30, 2018.
On February 19, 2019, the Company issued Jeffrey J. Parker 1,931,503 shares of its common stock as payment against a Promissory Note issued to Mr. Parker on March 27, 2018.
On February 20, 2019 The Company signed a Letter of Intent with M Line Holdings, Inc. to acquire two Companies in the property, restaurant and event center business. This transaction is due to close before the end of February.
On February 22, 2019, Mr. Anthony L. Anish was appointed as a Director of the Company and Jeffrey J. Parker resigned all his positions as an officer and Director of the Company. In full and final settlement of all amounts due, Mr. Parker will receive $125,000 payable over 18 months and four million restricted shares of Common Stock of the Company
On February 25, 2019 Anthony Anish was appointed as CEO and Secretary of the Company.
Anish is now creating the illusion that SQCC has no debt, despite the fact that there was $103,978 in convertible notes on the books shortly before he took over the entity.
Here’s where it gets interesting...
The current O/S is 190,323,159. Lol
Then go look at the volume on the chart over the last couple of years...
Highest volume day since 2013 was 1.3M.
They needed a pump artist to run the company so that they can finally dump shares. That’s why Anish was brought in.
Anish’s past and present history on Twitter is a perfect example of how fraudulent Anish is...
Essentially, Jeffrey J. Parker still retains voting control over SQCC since he was the only officer at the company when the above mentioned issuance occurred.
Furthermore, the approved $4M Reg-A (up to a total of 80M shares) will be dumped to fund Anish’s shells and those non-U.S. insiders aren’t going to wait around for that...
This confirms that SQCC is both an insider enrichment scheme and a near-term share selling scam.
For those who are unfamiliar with the new CEO, it has already been PROVEN that CEO Anish is a CONVICTED LIAR who has pleaded GUILTY to numerous crimes.
Here’s the proof:
Local News in Brief : 2 Men Sentenced to Prison in $257,000 Fraud Scheme
Another man, Anthony Anish, 39, of Laguna Niguel, who helped supply the credit references, pleaded guilty to aiding and abetting mail fraud and was put on three years probation, Lincenberg said. A fourth defendant, Byron Foster, 28, of Los Angeles, was acquitted. http://articles.latimes.com/1988-08-30/local/me-1426_1_credit-references
Let’s not forget how he stole money from kids...
AYSO Official Charged in $100,000 Theft
A regional commissioner with the American Youth Soccer Organization has been charged with stealing more than $100,000 from the nonprofit's Newport Beach office, authorities said.
Anthony Leon Anish, 55, surrendered to Newport Beach police about 1 p.m. Wednesday, department spokesman Sgt. Steve Shulman said. Bail was set at $50,000.
"The detectives are very satisfied that they were able to get [an arrest] warrant," Shulman said. "But from a community standpoint, we are certainly disappointed that money that was to benefit these kids was lost."
Anish, a Costa Mesa resident, oversaw the finances of AYSO Region 97, which serves more than 1,500 children in Newport Beach and Costa Mesa and had a reserve fund of $120,000, from February 2001 until May.
According to a civil lawsuit filed in June, he squandered most of the money on personal investments, house payments and four Los Angeles Galaxy season tickets with preferred parking, leaving the organization with less than $20,000 in the bank.
"We haven't recovered the money," Shulman said. "I don't know where it went."
Other AYSO officials said they became suspicious about a year ago, when Anish refused to provide financial information or show monthly reports.
Local AYSO officials were in "disbelief because it was something for the kids and the community," Chris Sarris, a coach and board member who took over Anish's position, said when the civil suit was filed. "We had to start from zero again." http://articles.latimes.com/2003/oct/02/local/me-ayso2
Here are several cases involving CEO Anish in which he failed to carry out responsible fiduciary duties:
Based on the foregoing findings, the California Corporations Commissioner is of the opinion that Money Line Capital, Inc., M Line Capital, Inc., Anthony L. Anish and George M. Colin have engaged in the business of a finance lender and/or broker without having first obtained a license from the Commissioner in violation of California Financial Code section 22100. http://www.dbo.ca.gov/ENF/pdf/2010/MoneyLineCapital_dr.pdf
MLHC’s acquisition of SQCC is worthy of an SEC investigation...
From the PR announcing the initial LOI:
The new entity we plan to acquire currently generates over $12 million in revenue and is expected to grow to over $17 million revenue this year.
And from the PR announcing the closing of the acquisition:
Newport Beach, CA, March 15, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- M Line Holdings, Inc. (OTC Pink: MLHC; "M Line" or the “Company”) announces that it has sold its real estate assets and its interest in the Caravel Group to Square Chain Corp. (OTC Pink Stock Symbol “SQCC”) for stock in Square Chain Corporation (“SQCC”), a significant portion of which will be issued to M Line shareholders as a dividend.
As of the most recent filing for SQCC: - $0 in revenues - $979 in cash - $233,318 in liabilities - -$631,361 negative cash flows from operations - $10,381,179 in Accumulated Deficits