Jessica M Lockett as legal counsel has been asked 2 very important questions, that only she as legal counsel of DSCR can answer. You can chime in all you want, but unless you are DSCR's legal counsel, you have nothing to add.
Jessica Lockett in my opinion has committed malpractice. Her negligence allowed not only the 5,000,000,000 to 10,000,000,000 share increase to occur, but allowed this to be concealed in all mandatory disclosure reports for DSCR.
Don't beleive me, check for your self. Goto the annual reports of DSCR look at Subsequent Events section, when you don't find any disclosure of 5,000,000,000 (FIVE BILLION) common share increase, you will understand the base of damages caused.
Context: In April 2018, DSCR had a $300,000 Preferred Convertible that had no more shares to convert into. This was the driver for the 10,000,000,000 un disclosed, unannouncd share increase.
There were shortcuts taken including:
1. par value of $.01 vs par value of $0.00001; 2. unanimous director agreement when only 1 of the 3 signed it (Russell Smith); and 3. the election of the Wyoming Statute that required the issuer only have 1 class of stock outstanding, when the reality DSCR had multiple classes.
4. Common shares being one class of stock outstanding, the convertible Preferred A being a second class, that alone invalidates the Wyoming Statute shortcut taken.
These shortcuts might be dismissed as minor but combined show the state of mind or scienter of management to achieve this goal.
A good attorney will argue that this negligence on Jessica Lockett's watch allowed the 1,250,000,000 shares of DSCR to come into the market to be sold during the period of time of March to May 2021. These shares and the nondisclosure of this overhang, is what destroyed the value of the company.
1,000,000 shares of DSCR were worth more than $30,000 two years ago, today those same 1,000,000 shares are worth $1. One dollar or a $29,999 loss, is the gravity of these damages.
If the share increase was disclosed properly, many of the investors who lost money in DSCR would not have invested. This is why the minority damaged shareholders should send the letter below, along with exhibits we have indexed to their attorney for analysis.
FROM : DISGRUNTLED DSCR Shareholder (on your letterhead/email) TO: Jessica M. Lockett Lockett + Horwitz, a Prof. Law Corp. 2 S Pointe Dr Ste 275 Lake Forest, CA 92630-2289 California Bar Number: #290758
As legal counsel for Discovery Minerals Ltd, can you explain to me how DSCR increased their authorized common stock capital from 5,000,000,000 to 10,000,000,000 in July of 2018.
All without:
1. Notice to shareholders;
2. Approval of shareholder entitled to vote;
3. Omission of this common stock increase from shareholder disclosure, in all OTC Markets Mandatory reports;
and
4. Concealment of DSCR common stock capital increase from 5 billion to 10 billion, in all "Subsequent Events" disclosures from every OTCMarkets mandatory report for 2018, 2019, 2020 and 2021.
Further upon inspection of the Wyoming State Bar, I find you are not licensed to practice law in Wyoming. With DSCR having multiple classes of shares outstanding it seems that they are ineligible for the exemption of shareholder vote that they took, while you were their legal counsel.
Instead of using Wyoming Statute Title 17-16-1003, Discovery Minerals Ltd. should of used Wyoming Statute Title 17-16-1005.
As such please identify your firms malpractice insurance policy, so that I may raise the damages of loss that I suffered during the time period of my DSCR purchase between June 2018 and June 2021.
Please respond promptly, for I am trying to preserve my reservation of rights as most professional liability policies have incorporated this, in their present day insurance coverages.
Last please present your professional liability insurance coverage page, with stated policy limits and contact information for filing a claim. This information is needed for upcoming lawyer meeting I have scheduled about my options on filing a lawsuit concerning my DSCR investment.
Thank you,
/s/ Name of Minority Shareholder of DSCR Return Address of Minority Shareholder
You asked for links and sources outside of iHub, here is an analysis that sums up teh initial complaint. Good luck, also the fastest resolution of getting Russell to answer for his actions, is to file an adverse Bankruptcy. You will need three DSC Coin buyers to do this. By forcing DSCR into an adverse Bankruptcy, you will get a date for what is known as a 341 Creditors Hearing.
At this hearing Russell will be required to show, and at this meeting with an appointed Department of Justice Trustee, you can introduce teh evidence of fraud that you have and continue to be victim to.
Also Bankruptcy has a "Claw Back" which you can use to get assets back from a DOJ Trustee...OUCH.
On that note here is analysis that was done on December 10, 2021, still valid and in hindsight more accurate than most.
Still true, only difference is the stock price back then was a $0.01 since it has never been higher that $0.0001 and trades in the expert market by appointment, creating in its wake a lot of wall paper and blame.
"...Love all this inside information on Discovery Minerals
This board has information that the management of Discovery Minerals has decided (scienter) to withhold from the minority shareholders. The results of witholding this adverse information from DSCR shareholders, has resulted in a 90% decline of the share price in DSCR since September, 2021. UPDATE it is now a 99.98% decline in share price.
This is also known as inside information.
Let's see what we have as a select group of shareholders, that the investing minority shareholders of DSCR do not have.
1. Why would Discovery Minerals Ltd. sell $2,538,000 worth of a DSC Coin and not report the revenue from this?
2. Because the company lied to buyers of the DSC Coin about the assets backing it.
3. ACTUAL STATEMENT FROM Discovery Minerals LTD.
4. "...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..."
13. Page 22 of this has the SMOKING GUN, goto jail do not pass go. It shows Discovery Minerals Ltd. management's state of mind in further concealing this fraud.
14. "...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.
15. 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..." = Bye Bye
THIS IS THE NAIL IN THE COFFIN
UPDATE OTCMarkets on December 21, 2021 put DSCR in Caveat Emptier status and delisted them from trading on the OTC proprietary quotes"
16. This explains why Discovery Minerals Ltd disowned knowledge of this DSC COIN, look at the representation they made.
17. 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..."
A $100,000,000 Lie to Sell $45,000,000 in DSCR Stock between May 4, and May 11, 2021. Now you know why the stock promoters on this hate me. This and only this is how DSCR flooded and sold an additional 1,250,000,000 DSCR shares and destroyed teh market cap and tradability of this company. Nice try on the Projection, but the fact is this company committed fraud, and 15,000 minority shareholders lost $125,000,000 to this scam.
18. 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".
19. 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.
20. This is why the DSC Coin sale is not mentioned, in mandatory financial reports. (material omission / fraudulent concealment).
21. This is why management of Discovery Minerals Ltd:
22. Took down the DSC Coin website.
23. Won't address this issue in public.
24. Why Discovery Minerals LTD is never filing another mandatory report again.".
UPDATE: Management has actually issued reports since, but fail to address teh points mentioned.
25. Result Discovery Minerals LTd.it is never getting current again.
26. This information we have is non public information that the mangement of Discovery Minerals. Ltd., has made a conscious decision to further conceal. All at the determent of the minority shareholders.
Update on December 21, 2021 OTC Markets took DSCR to Caveat Emptor status, where it has been ever since.
Exhibits & Evidence supporting investigation into $DSCR
$DSCR understanding the conspiracy to commit securities fraud
USA vs Richardson 2:20-cr-00333 Eastern District of PA
USA vs Richardson Eastern District of PA, case number 2:20-cr-00333,filed 9/30/2020.
Common Elements 429 W. Plumb Lane, Reno Nevada 89509
Home of the following companies:
1. DSCR; Caveat Emptor Status; 2. FITX; Suspended February 2016; 3. IGRW; Suspended February 2016; 4. VIRA; Current Pink; 5. NHEL; Suspended July 2019; 6. ANVV; Suspended July 2019; 7. ADIC. Suspended February 2016.
And same cast of characters including:
A. Fred Schiemann; Permanent Injunction B. Frank Petronis; C. Henry Manayan; D. Morgan Petitti; Permanent Injunction E. Scott Watkins; plead guilty/awaiting sentencing F. Russell Smith; G. Ricardo Richardson; indicted/ awaiting trial H. Joel Stohlman; plead guilty/awaiting sentencing I. Edward Heil indicted / awaiting trial J. Gary Wolff indicted /awaiting trial
Why $DSCR's Management should be indicted for securities fraud?
This company CEO lied to the WY SOS to illegally increase the authorized capital from 5,000,000,000 to 10,000,000,000 common shares.
All for the purpose of executing this corporate action of increasing the authorized common share capital, ALL without NOTICE of meeting and APPROVAL of the shareholders of $DSCR.
Further the CEO knowingly with scienter materially concealed (highest form of non disclosure), that this corporate action of raising the authorized common shares from any mandatory disclosures. Even to go as far as to omit this action from the "subsequent events" portion of ALL OTC mandatory reports, from June 2018 to current (4 years).
Here is where you can start reading of the level of fraud you have all been subjected to.
IMPORTANT LEGAL NOTICE REGARDING ALT 5 Sigma Inc., and Discovery Minerals Ltd., and the Discovery Minerals Coin.
We are writing you further to the receipt of inquiries from Discovery Minerals’ shareholders and or purchasers of the Discovery Minerals Coin as it pertains to the role and relationship of ALT 5 Sigma Inc. and Discovery Minerals Ltd.
On March 9, 2021, Discovery Minerals Ltd entered into a technology and consulting agreement with ALT 5 Sigma Inc. to build the technology framework for the sale of the Discovery Minerals Coin.
ALT 5 Sigma provided the technology and consulting services to Discovery Minerals and Discovery Minerals proceeded with the sale of its coin whereby proceeds from the sale of the coin were remitted to Discovery Minerals Ltd and more specifically to the company’s president, Mr. Russell Smith.
ALT 5 Sigma Inc. provided technology and consultancy services only and was not party to the sale of the Discovery Minerals Coin.
It should be noted that Discovery Minerals Ltd. proceeded to file false and misleading statements with the OTC Markets namely the name of the control person of ALT 5 Sigma Inc. as being Brian Scott is incorrect.
Neither ALT 5 Sigma Inc., nor Brian Scott entered into any loan agreement with Discovery Minerals Ltd. for the reimbursement of the Discovery Minerals Coin.
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. As previously disclosed in the Company’s period ending March 31, 2021 quarterly report and further press release dated April 30, 2021, the Company signed an agreement with ALT 5 Sigma for the development of its Discovery Coin and Gateway Payment. However, management has determined this course of action would not be in the Company’s or the shareholders best interest and has terminated the agreement and is no longer exploring a crypto currency initiative. In December 2021 the Company entered into an escrow agreement whereby all coin buyers will be refunded their full purchase amount.
We therefore ask that you contact Discovery Minerals Ltd. If you have any questions and or comments regarding the company, its coin and or the refund. Sincerely,
ALT 5 Sigma Inc. ALT 5 Communications 420 Lexington Ave., New York, NY 10170 Unsubscribe
48. Email from Discovery Minerals Admits Coin Sale
Date December 13, 2021 lack of memory is going to be your downfall.
From: DSCR Management RE: DSC Coin Sale
"...Due to the high volume of emails, we will be having longer than normal response times. We apologize for the inconvenience but we are grateful for your support and patience.
DSCR is committed to transparency, and we are working tirelessly to ensure we have everything up to date on our website, social media and investor relations.
If you have questions about the coin, we will be issuing refunds. Please send a copy of receipts or purchasing agreements to us via email. Please allow 7 days for a response.
If you are inquiring about verified pink status on OTC, please know we have submitted all necessary paperwork and are awaiting updates as well.
If you are inquiring about The Ruby Mine or our JV, please know we have more details to be released in the next few weeks.
Thank you for your support. We appreciate all of our shareholders.