$565,000 from White Frog Investments Ltd “to perform promotional and advertising services for a one week profile of AlphaTrade.com, which services include the issuance of this release and the other opinions that we release concerning APTD”.
Ox of Wall Street is owned by OTC Solutions, 1225 19th Street NW, Suite 300, DC 20036.
Domain: created 10 July 2009. Anonymous registration.
Presently
OxofWallstreet.com is owned by: FreePennyAlerts, LLC, 40 East Main Street, Suite 572, Newark, Delaware 19711
KillerPennyStocks.com
7/29/2010
$565,000 from White Frog Investments “to perform promotional and advertising services for a one week profile of AlphaTrade.com, which services include the issuance of this release and the other opinions that we release concerning APTD”.
Owned by OTC Solutions.
Domain: created 10 November 2009. Anonymous registration.
Presently
KillerPennyStocks.com is owned by: FreePennyAlerts, LLC, 40 East Main Street, Suite 572, Newark, Delaware 19711
PennyStockAlley.com (thepennystockpicks.com)
7/30/2010
$565,000 from White Frog, “to perform promotional and advertising services for a one week profile of AlphaTrade.com, which services include the issuance of this release and other opinions that we release conscerning APTD”.
Penny Stock Alley is owned by OTC Solutions.
Domain: created 3 September 2009. Anonymous registration.
[Thepennystockpicks.com is not an anonymous registration; at least not entirely anonymous. It goes to Resultz Media Group Corp in Windsor Ont. Contact is Aaron Peterson.]
Presently
PennyStockAlley.com is owned by: FPA, LLC, 40 E. Main St., Suite 572, Newark, Delaware 19711
ExplicitPennyPicks.com
Date unknown, but probably 31 July
$565,000 from White Frog, “too perform promotional and advertising services for a one week profile of AlphaTrade.com, which services include the issuance of this release and other opinions that we release conscerning APTD”.
Owned by OTC Solutions; the website is copyrighted by Penny Stock Alley.
ExplicitPennyPicks.com uses third parties to disseminate information to subscribers. Although we take precautions to prevent others from obtaining our subscriber list, there is a risk that our subscriber list, through no wrong doing on our part, could end up in the hands of an unauthorized party and that subscribers will receive communications from unauthorized third parties.
Domain: created 13 February 2010. Anonymous registration.
Presently
ExplicitPennyPicks.com is owned by: FPA LLC, 40 E. Main St., #572, Newark, DE 19711
Free Investment Report
8/3/2010, 8/10/2010, 8/13/2010
$565,000 by White Frog Investments
owned by OTC Solutions, LLC: sketchy website, no disclaimer
Domain: created 6 July 2007. Anonymous registration.
Presently
FreeInvestmentReport.com is owned by: FreePennyAlerts, LLC, 40 East Main Street, Suite 572, Newark, Delaware 19711
Clearly there is some relationship between OTC Solutions, LLC and FreePennyAlerts, LLC
This explains why FreePennyAlerts, LLC was registered as a business entity in Delaware on 7/2/10 despite all these website being much older than that
Either OTC Solutions, LLC sold all these websites to FreePennyAlerts, LLC or the same people are involved and they just transferred everything over to a new business entity for some other reason
It's probably more likely that they were sold since the locations are so far apart Maryland vs Delaware, of course this is the promoter word and location isn't all that relevant
$475,000: PennyPic received four hundred seventy five thousand dollars and signed a one year contract from a non affiliate third party white frog investments for online advertising and marketing of Alpha Trade.
Domain: created 6 May 2008. Owned by Jay Fung. Address in Sunnyvale CA. Fung owns “about” 128 other domains, so good luck.
Pennypic.com is obviously run by the same people who run InsaneStocks.com. The format is similar, and the content of the “blog” is identical. Neither features specific stocks on its website; you have to sign up for the alerts for that.
The address of InsaneStocks is 900 North Federal Highway, Boca Raton FL 33432 (But in its domain registration, it’s given as Royal Palm Way, Boca Raton 33432.) Domain created 3 April 2009. Not an anonymous registration, but the administrator is “Stocks, Insane”.
I did some research on Jay Fung:
SEC: Fla. companies profited from Universal Express stock scheme
Date: Monday, April 7, 2008, 12:00am EDT - Last Modified: Thursday, April 3, 2008, 9:20am EDT
SEC court filings against the former CEO of Boca Raton-based Universal Express say the company made millions of dollars in 2007 by selling unregistered securities - with help from some South Florida companies.
Even after losing a $25.7 million judgment to the SEC for issuing unregistered securities in prior years, Universal Express and its executives employed a similar practice last year until a court-appointed receiver shut the company down, the court filings said.
In its case in New York federal court, the SEC is pursuing a motion to jail former Universal Express CEO Richard Altomare for contempt because he has not paid his portion of that judgment. Altomare contends he can't afford to pay the first $1.7 million of his $3 million judgment.
That judgment came in March 2007. The judge ruled the company, Altomare and its general counsel issued more than 500 million shares of unregistered public securities between April 2001 and January 2004. The parties receiving those shares at no charge sold them for $17.9 million and kicked back nearly $10 million of that to Universal Express, which distributed $1.4 million to Altomare.
Facing an SEC lawsuit and being barred from that practice by a federal judge apparently did not stop Universal Express. From January through July 26 of last year, the company issued 20.9 billion unregistered shares to various parties, according to a declaration by an SEC accountant. These parties sold most of the shares for a total of $17.3 million. During the same period, these parties paid nearly $9.3 million to Universal Express, according to the SEC.
The document shows that Edward M. Balena, of Boca Raton, received 2 billion unregistered shares of Universal Express and transferred most of them to some South Florida companies: Alton Gray Investments in Boca Raton; Newro in Wellington; Pudong LLC in Delray Beach; and Max Capital Holdings and Wan Tsing Enterprises, which share an office in Deerfield Beach. These companies sold the shares for $1.2 million and paid $990,000 to Universal Express, the SEC said.
Jay Fung, who personally gave funds to Universal Express, is an officer at Pudong and Wan Tsing and a former officer at Max Capital, according to state records.
The company phone directory at Max Capital listed Fung and Balena, but neither of them returned messages. Calls were left for the other parties, but they could not be reached or did not return calls.
The SEC also named York Holdings Corp., of Boca Raton, and CLX & Associates, a Miami-based public relations firm, as recipients of unregistered Universal Express stock, although CLX did not sell any. Neither of them returned calls for comment.
The parties that participated in the 2001-2004 sale of unregistered Universal Express shares were co-defendants in the SEC's civil suit. They settled the charges and agreed to cooperate with federal authorities pursuing a criminal investigation against Altomare, according to court filings.
The SEC has not filed any action against the parties it accused of participating in Universal Express' most recent stock scheme. It is concentrating on recovering its judgment from Altomare.
In its March 21 motion for contempt, the SEC said $3.8 million passed through Altomare's bank accounts since July 2006, yet he has paid only $60,000 toward the judgment. Altomare received $2.7 million from Universal Express during that time, the SEC said.
Since he lost the judgment, Altomare and his wife have paid at least $366,890 to remodel their Highland Beach condominium, which is valued at up to $2.8 million. That includes $98,970 for audio and video equipment, $367,674 for lighting fixtures, $24,364 for area rugs and a $9,269 chandelier.
"Despite his claim of insolvency, Altomare continues to live a lavish lifestyle inconsistent with his professed state of poverty," the SEC said. "To the contrary, his actions indicate he has other sources of income which he has not disclosed to the court."
In Altomare's filing, which calls for a dismissal of the motion for contempt, he said his salary and bonuses from Universal Express were spent on personal expenses, and he does not have enough money left to pay the judgment. The filings say he has remodeled the condo to facilitate a sale so he could pay the judgment.
Altomare's Miami attorney, Arthur Tifford, did not return a call seeking comment.
Follow up to that article:
SEC sues Florida brokers over illegal Universal Express shares
The Securities and Exchange Commission has accused three stockbrokers, including two from Florida, of helping Universal Express, a Boca Raton-based luggage shipping company, illegally issue more than 21 billion shares.
The federal civil complaint, filed Tuesday in New York, said the defendants generated proceeds of $34 million by unloading the unregistered stock.
It took billions of shares of Universal Express to raise that kind of money because they traded between one-hundredth of a penny to 6 cents a share between 2004 and 2007.
The complaint names Coral Gables resident Robert L. Weidenbaum and his Miami-based CLX & Associates; Holmes Beach resident Doyle Scott Elliot and his Bradenton Beach-based Scott Elliot Inc.; and Dix Hills, N.Y., resident Michael J. Xirinachs and his Melville, N.Y.-based Emerald Asset Advisors LLC.
The SEC won a $25.7 million judgment against Universal Express and then-CEO Richard Altomare in 2007 for selling the unregistered stock and making false and misleading statements. The complaint in that case said the illegal stock sales were keeping the company afloat and providing lavish benefits for Altomare.
The luggage-shipping company was placed into receivership and had most of its assets liquidated. It still claims ownership of a trove of Michael Jackson memorabilia, which was partially purchased using proceeds from unregistered shares.
According to the complaint, the defendants bought unregistered shares from Universal Express at a discount from the market price from 2004 until just before the verdict in the SEC case was issued in 2007. The companies and individuals then sold these shares on the public market and paid some of the proceeds to Universal Express to compensate for the shares they sold.
Many of these deals were done through various brokerage accounts around the county or off shore held in the names of the defendants, the complaint says.
The latest SEC complaint seeks to make the stockbrokers pay civil penalties and disgorge all ill-gotten gains, bar them from participating in penny stock offering and permanently restrict them from violating the securities act.
Name: Express Passport Phone: (888) 612-9899 Fax: (561) 750-6151 Address: 900 N Federal Hwy Ste 200 Boca Raton, FL 33432-2753 Google Map Website: http://www.expresspassport.com Original Business Start Date: January 2009 Principal: Ms. Kerri Powers, Managing partner Entity: Limited Liability Corporation Incorporated: January 2009, FL Type of Business: Passport Service BBB Accreditation: This organization is a BBB Accredited business. Additional DBA Names: Expedite Media, LLC. Mr. Jay Fung - Owner
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