Replies to post #8184 on Wellstar International (WLSI)

[StormyStocks]

The SEC seems to be really trying now to crack down on this type of fraud. They have got their work cut out for them because this is so widespread just in the OTC. I think it's a bit more sophisticated in the NYSE, but it is still there.

In the past few days the SEC has halted several OTC stocks due to questionable activities. If they just take a few at a time like they have and really focus on these then over time they will get it cleaned up somewhat.

With WLSI, it is so blatant what happened I am surprised that an indictment hasn't been handed down. These folks need to be in jail, for sure.

[bigtime11]

Hey Ed, how were you able to decipher how much they actually paid themselves? Don't they file based on the accrual method and accrued/unpaid salaries were well over a million dollars last filing. I've tried to look in the past but never found a break down of accrued/cash paid wages for either Antonio or McCoppen. The only thing I saw was when they forwent wages for stock. I could be wrong but I dont think so, cause I had always read the financials with the understanding there were unpaid wages most quarters. Thanks in advance, any help reading financial statements is appreciated.

[theophicarus]

Ed-seeking
In reply to, "In five years Antonio pulled a total of $1,297,113, and
McCoppen pulled a total of $1,236,150 out of a company
with virtually no revenues, a couple of times they took
a little bit of stock, but they milked the company
of every working penny . . ."
For years, I have felt that most of the money, I believe in excess of $57 million, is just flowing through. You have probably analyzed the R&D. No evidence exists that the money reported as R&D actually went to develop a product. We only saw a very poor video of a box, and another poor video of a smug CEO touting the wonders of a potential product. A clue that I have of the flow of money theory is the reported $100,000 plus amount for office furniture and remodel. That did not happen. I am convinced that if someone could look at all of the companies that Antonio is involved with that money is just moving in and out. If SEC is not interested now. This will continue