Just speculating, but I think the distinguished doctor and US Naval veteran will be included in a future Microcap Fraud Working Group press release, under the stock promoter category.
SUGO has bigger problems. The company had a BCSC CTO (cease trade order) early on in its current incarnation in the summer of 2009 #msg-39346469 because they had no proof of having a legitimate business in BC.
BC regulators are a lot more difficult than the pinksheets quotation service and the SEC, seems like. #msg-40103000
Risicare Monday, June 29, 2009 12:57:07 PM Re: Monk #msg-39132550
Why would they issue more shares? They already shuffled off 5 million to nominees already at .02 a share. They have got promoters working it and have run it up. This is just a plain old shady Vancouver promotion. The 10-K is hilarious, they have Bains and that is it and he has no experience in mining LOL I bet he sure does know how to distribute those 5 million shares though.
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Posted by: Risicare Wednesday, July 01, 2009 11:03:08 AM #msg-39198747
This one is such a perfect text book case of stock manipulation. Bound to get dumped badly when the promo ends.
They do a "phony" offering and push off 5 million shares at .02 each to nominees sit around for awhile..... Then gather up the now freetrading shares, hire some promoters and run the price up on small volume using wash trades. Now all those shares held by the nominees are selling in the dollar range for a company that has no business whatsoever and claims to be a mining company yet is run out of a financial service office by a man with no mining expertise whatsoever and who only according to the filings gives the company 10-15 hours a week. What a classic scam company, I can be sure the BCSC is watching.......
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