Lovatt has a history of twice moving subsidiary assets to different pinkies, so it wouldn't surprise me to see him move those subsidiaries again. From a disclosure he filed with pinksheets, Big Apple Consulting found the target "purchasing" companies.
- VClouds was originally sold to IJJP and then moved to CLDR. IJJP then underwent a R/S and now seems to be just a non-trading PK shell until another private company does a reverse merger.
- Enable was originally sold to CLDR and then moved to MMUH.
Lovatt saw how much money Brian Barrett, previous CEO of CLDR/GESM, was able to gain when he moved GuestMetrics to SSPT and then diluted it to oblivion.
In all of the above schemes, the PK companies that "bought" the subsidiaries, kept it as a "wholly-owned subsidiary" rather than integtegrating into the primary company. That way, the subsidiaries can easily be spun off again.
I'm not sure what, if any, specific laws might have been broken by this kind of scheme, but certainly investors and traders should beware of them. When you see that most of the PRs about a PK company are actually about a "wholly owned subsidiary," this should be a HUGE red flag!
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