So CRWV is a repeat of OWVI? Same characters involved. Same address. Same phone number. And no doubt some time down the road another group of shareholders with huge losses.
5348 Vegas Drive, Suite 551 Las Vegas, Nevada, 89118 Web: http://www.crownemining.com Office: (702) 789-1088
Executive officers for OWVI:
Ronald Lindsay Dane Peterson
Executive officers of CRWV:
Ronald Lindsay Dane Peterson
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Some history on OWVI:
Ronald Lindsay and his crew took over OWVI in the fall/winter of 2008 - it was a completely non-reporting company and had been for years. The shell had never done an SEC financial filing ever. At this point in time Ronald Lindsay was the COO and Stephen Prior was the CEO. They immediately did a 1:200 reverse split taking the outstanding share count down to 125,648.
At this point in time OWVI had 100,000,000 authorized common shares.
Almost immediately the share issuing begain:
In November and December of 2008, 37,521,612 shares were issued for services valued at $.10/share - that's $3,752,162 worth of services and at the end of 2008 the company had $0 in assets and $0 in revenues.
In January of 2009 another 3,003,452 shares were issued for services.
At this point the stock was trading at $2.00/share
On June 23, 2009, OWVI issued 350,000,000 shares for $250,000 in financing/debt this was accompanied by an increase the authorized share count from 100,000,000 to 1,000,000,000.
Right before those 350,000,000 shares were issued the stock was trading at $.04/share.
Those weren't the only shares issued during the 2nd quarter of 2009. By June 30, 2009 the outstanding share count was 896,440,216.
Starting on June 24, 2009 there was a sharp increase in volume accompanied by a share decrease in the share price. By July 24, 2009 the stock price had dropped to $.0005/share.
The dumping of those 350,000,000 shares must have stopped after July 24, 2009 because the stock price was able to recover to $.004/share by August 14, 2009.
On August 5, 2009, the authorized share count was raised from 1,000,000,000 to 2,000,000,000.
The annual report for 2009 tells us that OWVI issued more shares towards debt conversion during the 3rd quarter of 2009, but they don't tell us how many.
By March 31, 2010 the outstanding share count was 2,000,000,000 (maxed out) and the share price was floating around $.0025/share.
OWVI stayed maxed out until May 7, 2010 when they raised the authorized share count again to 2,500,000,000. And starting in June the share issuing and share dumping started again.
By September 30, 2010 OWVI had issued all 500,000,000 newly created shares and were maxed out again now with 2,500,000,000 outstanding shares. The 500,000,000 newly issued shares drove the price down into the triple zeroes again closing at $.0009/share on September 30, 2010.
The shares kept getting dumped right through the rest of the year and the share price tanked down to $.0002/share by December 31, 2010.
OWVI kept the outstanding share count maxed out at 2,500,000,000 until January 18, 2011 when they raised the authorized share count again this time to 3,500,000,000.
I guess that Lindsay thought that OWVI might have one last pump in it because right before raising the authorized share count to 3,500,000,000 Ronald Lindsay replaced Stephen Prior as the CEO of OWVI. He immediately brought in his buddy Shane Peterson and changed the focus of OWVI to mining mentioning Peterson's alleged mining property in Mexico.
No doubt it was all just to facilitate the dumping of shares because OWVI stopped doing any filings after Lindsay took over and hasn't issued a quarterly report so far in 2011.
The stock is now stuck on no bid. With the death of the stock Lindsay and Peterson took their act over to CRVW.
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Is CRWV doomed to follow in the footsteps of OWVI? So far they are off to a similar start.
Like OWVI, CRWV is a Nevada business entity that hadn't ever done a SEC filing in its history. It was a completely non-reporting entity.
Like with OWVI a reverse split was done on the stock and so Lindsay and his group started with a nice tiny outstanding share count to work with.
It is unclear if Lindsay took over shell before the reverse split done in August of 2009 or in the spring of 2011 when the first OTC filing showed up for the stock.
No annual reports were done for the Nevada business entity in 2010 or 2011 and the entity was revoked in June of 2011 before being reinstated in August of 2011 right before the authorized share reduction and the promotional campaign on the stock.
On March 31, 2011, CRWV had 17,155 shares outstanding. Like OVWI, CRWV had no assets and no revenues to start with. This gave the insiders an opportunity to loan the company money with extremely favorable conversion rates.
A related party let CRWV borrow $24,771 which was turned into a debt Note that can convert into 24,771,000 common shares ($.0001/share).
Arrangements were already being made at this time to bring the Mexican properties allegedly connected to Dane Peterson to CRWV.
CRWV remained quiet over the next few months - no press releases, no promotions, probably just waiting until they were done squeezing every last penny out the OVWI shell before moving over to the CRWV to start enriching themselves off of the CRWV shareholders.
Some time between June 30, 2011 and July 8, 2011 200,000,000 restricted shares were issued to an undisclosed party and 200,000,000 free trading shares were issued (again no disclosure).
On July 22, 2011 the Crowne Ventures Inc mining website was registered.
On August 22, 2011 the press releases and paid promotions started on the stock. Dane Peterson and his properties were official brought into the picture. CRWV has averaged more than 1 press release a day since that time.
Once the 200,000,000 free trading shares are all sold will we start seeing CRWV following the same pattern of share increases followed immediately by free trading shares being issued/dumped into the market?
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Only thing that is sure right now is that all the mining claims in the press releases are completely ridiculous and completely unrealistic.
CRWV has scam written all over it and it is just a matter of time until the insiders start cashing in at the expense of the common shareholders. Hopefully the SEC steps in soon.
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