Replies to post #5365 on UC Hub Group Inc.(fka UCHB)

[Last Chance]

You Agree: UCHB is working with Mellone

You said you read the 8-K.
Quote: "8K...I don't have to reread it, I already know what it says.."

Then you know it talks about Anthony Mellone's Company - Tri-Star Holdings.

From the 8-K: “events that may be beyond the control of Tri-Star Holdings..... “

Source: http://www.sec.gov/Archives/edgar/data/1072935/000127100810000009/f8kuc6410.htm

What are you going to say now?.... "larry made a typo"...please!

Tri-Star is Anthony Mellone’s Scam – including Tri-Star Gold: http://www.tristargold.com/ - One of the Biggest Scams Around!
(Google: Anthony Mellone)

So...

If you have a problem with UCHB/Larry Wilcox working with Anthony Mellone (long time scammer) ....

I would suggest contacting Wilcox at the 800 number listed in the ibox and tell him what you think.
Good Luck!

[Toxic Avenger]

You seem to have trouble understanding the PR, so I'll try to break it down for you again:

"Prior to the Maturity Date, Purchaser shall have a hold on the Preferred Shares of Larry Wilcox the CEO, as part of the collateral for the loan. This collateral, will give “Purchaser” his controls (i.e. super voting stock via Preferred A stock) of the company if the loan is not paid back in 12 months."

The preferred shares have voting control of the company by virtue of the equity structure. Currently they are held by Larry Wilcox. That means that whatever other shareholders want to do, Larry can outvote them with his control, even if every other shareholder disagrees. Those shares are now "held" by the purchaser (Mellone?) as collateral.

"This collateral of course, presently represents the voting control of the Company and its representative assets which as of today include in part, computers, equipment, stock, shareholder lists, the 8 Oil Wells in Illinois and said leases and the Rector drilling assignments which will be attached as Exhibits A (400 acre lease-2 wells) and B (80 acre lease w/ 6 wells) to this Agreement."

The collateral represents voting control of the company AND ALL its assets which include what's listed here PLUS everything else. Now, looking at the latest UC Hub balance sheet, total assets, including the mines, oil fields, equipment, etc., etc. are worth a grand total of $82,087. I think it's safe to assume the mines and oil well leases are worth far less than not only the $300k loan, but the $600k to $1 million market cap of the company.

You'll note the lender is NOT assuming any liabilities of the company.

Hopefully this helps you understand what "This collateral, will give “Purchaser” his controls (i.e. super voting stock via Preferred A stock) of the company if the loan is not paid back in 12 months." means.

You are correct that detail terms are not spelled out, which I should think would be a huge red flag to shareholders. IMHO it's unlikely the withheld details will put UC Hub shareholders in a more favorable position.

Good luck, I hope you don't lose your entire investment to this strange financing deal.