The lines get blurry with all this fraud. Like playing whack a mole, with all the misdirection and lies. Newsflash Fred Schiemann being kicked out of OTCmarkets is the first of many shoes to fall.
The predicable part is that there is 0 loyalty when the Feds come knocking. At criminal trial and hearings in PA watching the defendants actually start crying "Stuttering Stoolman" can be heard in the halls .
Funny how this is where these people wind up, they want sympathy from the judge, and he is basically telling them to look it up in the dictionary, Sympathy is between Sh*t and Syphilis
1,000's of investors lost tens of millions of dollars to this $DSCR PUMP & DUMP.
Fake Coin - nice try of the Alt5 Sigma handoff, could care less who has the money, I am more interested in DSCR management's press releases, and concealment in mandatory disclosures.
You know the press release one on May 11, 2021 that stated by DSCR that the DSC Coin was backed by: 1. 2,100 ETH; 2. 2,100 BTC; 3 2,100 Ounces of Silver; and 4. 2,100 Ounces of Gold.
In total DSCR represented to investors that the DSC Coin was backed by more than $100,000,000 in assets. When in fact it had $0 behind it.
This was a lie and what is known as a fraudulent inducement. It further was used to sell $2,500,000 worth of DSC Coin.
The only explanation given for this is from PennyMover, no DSCR comment 0.
4. The SEC absoultely regulates crypto, ask XRP (Ripple). This is a naive statement, compound that with the fact you don't know where Discovery Minerals is even incorporated. You might want to sit the next quarter on the bench.
The SEC absolutely regulates an Issuer, especially when lies are made to shareholders. Section 10(b)5 is a good place to start your research.
6. People need to goto jail over this. What has been discovered is so over the top. Like a bad movie, if it wasn't so damaging (stealing money from innocent people), this would be comical.
7. DSC COIN + Fraudlent Assets = Material Concealment
8. Why would Discovery Minerals Ltd. sell $2,538,000 worth of a DSC Coin and not report the revenue from this?
9. Because the company lied to buyers of the DSC Coin about the assets backing it.
10. ACTUAL STATEMENT FROM Discovery Minerals LTD.
11. "...The Discovery Minerals Coin ("DSC") is what is known as a Tethered Coin, whereby once fully distributed DSC will have a total of 2,100 Bitcoin, 2,100 Ethereum, 2,100 ounces of Gold, and 2,100 ounces of silver "backing" the coin..."
20. Page 22 of this has the SMOKING GUN, goto jail do not pass go. It shows Discovery Minerals Ltd. managment's state of mind in further concealing this fraud.
21. "...Note 8 – Subsequent Events
Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855 after the balance sheet date through the date the financial statements were issued.
22. "...The Company did not identify any additional material events or transactions occurring during this subsequent event reporting period that required further recognition or disclosure in these financial statements..."
THIS IS THE NAIL IN THE COFFIN and why the SEC is going to suspend this company for inadequate financial information.
23. This explains why Discovery Minerals Ltd disowned knowledge of this DSC COIN, look at the representation they made.
24.Discovery Minerals LTD published public statement "...The Discovery Minerals Coin ("DSC") is what is known as a Tethered Coin, whereby once fully distributed DSC will have a total of 2,100 Bitcoin, 2,100 Ethereum, 2,100 ounces of Gold, and 2,100 ounces of silver "backing" the coin..."
25. The assets backing the DSC Coin Offering NEVER EXISTED. Yet the company still lied in representation that the DSC Coin had in excess of $100,000,000 "backing the coin".
26. This is a lie that DSCR told DSC Coin buyers to get $2,538,000 in sales, and why they fraudulently concealed disclosure of the sales and revenue.
27. This is why the DSC Coin sale is not mentioned, in mandatory financial reports. (material omission / fraudulent concealment).
28. This is why management of Discovery Minerals Ltd:
29. Took down the DSC Coin website.
30. Won't address this issue in public.
31. Why Discovery Minerals LTD is never filing another mandatory report again "at the advice of new counsel".
32. Result Discovery Minerals LTd.it is never getting current again.
33. This is why the SEC will suspend this company.
34. This is why the US Attorney's office needs to convene a grand jury and start issuing some indictments for this conduct. This scam is coordinated, organized and effective. The results is thousands of shareholders have had their money stolen by a bunch of security fraudsters
Misrepresented $100,000,000 Assets, To Sell $2,538,000 in Coins.
Simple coloring book connect the dots here. Discovery Minerals Ltd. Created a wholly owned subsidiary called Discovery Minerals Coin.
Creates a Token, closes a deal with a payment processor and sells 1,200,000+ DSC tokens between May 11, 2021 and June 30,2021.
On the June 30, 2021 mandatory report Discovery Minerals, LTd. omits 3 times disclosure of DSC Coin. Then goes as far as taking the Https://discoverymineralscoin.com website down.
Why would management goto to such great lengths as to conceal this from the minority shareholders of Discovery Mineral Ltd?
The answer is that Discovery Mineral lied to Coin buyers and represented that the coin was backed by 2,100 Ethereum, 2,100 Bitcoin, 2,100 Ounces of Gold and 2,100 Ounces of Silver. To report this in mandatory filings would expose management to the fraud they told DSC Coin buyers.
To make matters worse, managment decided to conceal this mistake when identified and refuses to correct teh public disclosure document to relfect adequate financial information about Discovery Minerals, Ltd.
Every day that management refuses to address this the minority shareholders suffer.
Since September 27, 2021 this is down more than 90% & is the exact conduct that the SEC has suspended companies in the past for doing.
Further Due Diligence
2. A financial misepresentation of more than $100,000,000 represented "backing" the DSC Coin.
3.Through this misrepresentation of assets "backing" the DSC Coin. Discovery Minerals, Ltd was able to sell & transfer $2,538,000 worth of DSC coin sales, between the time period of May 11, 2021 to June 30,2020 *3.
4. On August 16, 2021 Discovery Minerals Ltd., filed a mandatory current financial report with the OTC markets. This report covered the time period between March 31, 2021 to June 30, 2021 and should of included disclosure of the $2,538,000 worth of DSC Coin sales, it did not. In this report, Discovery Minerals Ltd. consciously conceals disclosure of the DSC Coin Offering three times including:*4.
Omission 1. The reporting of zero revenue; (Page 12 of *4)
Omission 2. Disclosing the method of booking revenue, consistent with the DSC Coin sale; (Page 16 of *4)
Omission 3 Subsequent Events section, omitting that the DSC Coin offering existed. (Page 22 of *4)
5. To further conceal DSC coin offering sale of $2,538,000, Discovery Mineral Ltd., purposely took down the DSC coin offering website as seen here. https://discoverymineralscoin.com
An archive of the DSC coin offering website, shows the extreme level that managment went to, to conceal the $2,538,000 in DSC Coin sales from the minority shareholders of Discovery Minerals Ltd.
The minority shareholders have lost 95% of the value of their stock since September 2021. The main driver of this, the market has discovered the negligence of what management has concealed.
This is why this company needs to be suspended, until Discovery Minerals Ltd., can explain these disrepancies to the market, the minority shreholders will continue to lose money in this stock.
When you have had enough the SEC has a one page website to lodge a complaint. Took me 3 minutes, and that was because I was waiting on my coffee.
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