Posted by: zekel Date: Monday, May 18, 2009 3:24:50 PM In reply to: catani who wrote msg# 62379
On April 7, 2009, Darrel Uselton pleaded guilty to engaging in organized criminal activity, according to the Harris County district attorney’s office and received 10 years deferred adjudication.
Jack Uselton is set to plead today, May 18, 2009 according to the district attorney’s office.
Posted by: zekel Date: Wednesday, May 13, 2009 8:03:11 AM In reply to: Andy1009 who wrote msg# 116
repost/updated from yahoo: 2008 financials out - Most notably (and laughably!) is this statement about the Beneficial owners:
Firemark Capital, LLC
Joe Schmoe, Manager & Resident Agent 4,557,260 shares (9.0%) Address: 1947 Sparrow Ridge Road (according to Harris County Tax Records, this is Jack and Rowanne Uselton's home address)
IBIS Energy, LLC
Joe Schmoe, Manager & Resident Agent 4,755,420 shares (9.4%) Address: 615 Flaghoist Lane (according to Harris County Tax Records, this is Darrel and Lorena Uselton's home address)**
**According to Fort Bend County, TX Tax Records, Darrel just purchased a new home for $825,000 on March 14, 2008 at 10111 W HIDDEN LAKE LN, RICHMOND, TX. 77469. The property has an assessed value of $1,036,380 and was bought with "cash".
"Joe Schmoe" - LOL!!! Why not just call them Beavis and Butthead? Everyone knows that Darrel and Jack Uselton, are the owners of each of these companies!! GEEEZZZ - call a spade a spade will ya?
If you may recall, the Company made this 2007 statement: "On July 17, 2007 the Board of Directors, after becoming aware of an investigation of Darrel and Jack Uselton for securities related matters, resolved that the Company and all officers and directors should sever all business relationships with Darrell Uselton, Jack Uselton and any entities controlled by the Uselton’s. In order to separate the company from the Useltons all of the shares held by the Uselton’s or their entities were subsequently purchased by Galleria Asset Management, Inc. The President of Galleria Asset Management, Inc. is John Thomas Cloud and is located at 160 Wimberly Ranch Drive, Wimberly, TX 78676. The registered agent is William A. Carmichael"
Yet, quite disturbing, the opposite appears to be true. Notwithstanding Darrel and Jack's other 8.457 million share holdings (pre-split) through Tejas Capital, Accelerator Partners, Brazos Capital and Valores Fund which may or may not have been absorbed through Galleria Asset Management, the net portolio appears to actually INCREASE for Ibis and Firemark!!
In 2007, Ibis Energy (Darrel Uselton) was issued 112,770 shares of GFET (2.255 million pre-split), yet his current holdings are now 4.755 million. Similarly, in 2007, Firemark (Jack Uselton) was issued 7500 shares (150k pre-split) while his holdings now have dramatically increased to 4.557 million shares!! Say it ain't so Kathleen!! WTF!
Other items of note:
Typo carry over from 3rd qtr financials - corporate phone number should be 713-461-9229, not 713-463-9229.
New website noted in financials as: http://www.gulfalternativeenergy.com/ . Typos on website still erroneously show the stock ticker as GEAC instead of GAEC.
Outstanding shares ballooned from 47,086,265 to 50,586,265 in the last quarter alone (7.4% increase for the quarter, 29% increase for the year). Personal ATM Shares issued for cash include 1.0 million shares at an average price of $0.025/share, and 2.5 million shares issued for debt conversion generaing $225k in proceeds.
"We do not have enough cash to satisfy our capital requirements for the next twelve months"
"We currently have few assets ($15k) and no income."
"Our general and administrative expenses decreased from $4,154,833 for the year ended December 31, 2007 to $606,071 for the same period ended December 31, 2008." - congratulations - guess William Carmichael and JT Cloud are officially retired! However, with Kathleen's salary now at $21k per year, what is the other $585k for??!?
GAEC has an accumulated deficit during the development stage of $6,619,931 as of December 31, 2008 and a working capital deficit of $319,215 at December 31, 2008.
Gulf Alternative Energy is still a development stage company
Left over business from the "old" management: On February 13, 2007 we granted options to two shareholders who were included in the original offering, to purchase up to an additional six million shares. These options had an exercise price equal to the par value of the common shares ($0.0001) and must be exercised within one year. As of December 31, 2007, all of the six million options had been exercised, resulting in a cash receipt of $600 (YUP! - that's right, $600 bucks for 6 million shares - now THERE is fiscal responsibility for ya!).
"We have one full-time employee and no part-time employees" - Kathleen still a one-woman show!
Posted by: zekel In reply to: None Date: 5/12/2008 12:46:03 PM
William Carmichael bails from AETE. In a related note, JT Cloud also bailing from sister company, GFET on the same day while announcing a new search for a CFO, CEO, and Director of Engineering. First caller to fax in their resume will be issued 20 million shares of GFET, 10 million of AETE, 300 million of TMDI, and a zillion shares of OXFD.
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Posted by: The Cap'm In reply to: zekel who wrote msg# 286 Date: 5/12/2008 12:46:54 PM Post #
So, it's the same operators on all 4 stocks?
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Posted by: zekel In reply to: The Cap'm who wrote msg# 287 Date: 5/12/2008 1:29:40 PM Post #
Yup - same operators for more than just 4 companies: TMDI, OXFD, GFET, AETE, Southfield Energy, Galleria Securities, Hepplewhite Corporation, Brazos Capital, Valores Fund, Tejas Capital, accudaq, Ballyhoo, AEND, Cloud Management, Firemark Capital, Warrior, Ibis Energy, Cyberlaw, National Health Alliance, uAuthorize, Internet Business Factory, Accelerator Partners, North American Insurance, iExhalt, Corporate Secretary Services, Inc., Galleria Asset Management, LipidLaps, Goldbridge Consulting LLC, OTC Services Inc., Rx Software Inc., Virtra Systems, Inc., etc...
Same cast of characters: David Mordekhay, Jonathan Gilchrist, William Carmichael, JT Cloud, Darrel Uselton, Jack Uselton, Dino Price, Carly Long, Chet Gutowski, Mark Schiller, Oren Mizrahi, Tyson Rhodes - all operating generally past and present out of the same office suite on Blalock Road in Houston.
Interesting to note is that AETE has apparently not finished cleaning house as Ms. Long's subsidiary, Carliwater, Inc., appears to still be actively pursued.
I know this if overkill guys, but I find it quite amusing to know that these guys can't quite seem to settle down in the previously mentioned 42 companies, as there are even more (57 and counting!):
Millennium 2000 DaveMore, Ltd Continental Connections USA, LLC DM Energy Land Investors of America, Inc National Capital Trading Cornerstone Capital Management National Capital Merchant Group Travis Morgan Securities American Investment Services NC Capital Markets National Capital Securities Research Protrading.com Bronzesport Industries AC/DC Communications Inc.
Additional Uselton's (keeping with the all in the family affair that Darrel and Uncle Jack have kept up), include: Lorena, Penny, Frank, Michael and Scott Uselton. ref.: http://www.rgm.com/articles/stockwatch5.html
I have been following Darrel and Jack Uselton for many years, going back to a company called Mountain Energy (OTC:MTEI), in which I traveled to D.C. to testify on behalf of affected shareholders:
It was not until about a year ago, beginning with GFET, when I discovered the Uselton's relationship with William Carmichael and JT Cloud that I began to see the web of companies that were spamming the internet touting companies that had no real assets.
Important Opinion - I believe that Mr. Brown Marks at AETE has made the right decision to purge house of Carmichael, Gilchrist, and Mordekhay. It is my opinion that Carly Long should also go. I believe AETE has unwittingly been subjected to a scam perptrated by the above individuals. As such, I believe that one should give the remaining management the benefit of the doubt to get this situation out of the ditch.
I testified back around 1999 in front of Robert ("Bob") Besse at the SEC after I had met in person with Jack Uselton in 1998 when he was running the Mountain Energy (OTC:MTEI) scam. My visit with Jack was two fold - primarily at the request of friends who had invested (I live in Houston near their old offices and belonged loosely to a penny stock investor chat forum/club), and secondarily, I work in the oil & gas industry and was very interested in possible business opportunities. The meeting ended very quickly as I realized they had no operations, no operating personnel, and no knowledge of the industry. I never invested in that company.
Back in the late 90's, the SEC had never really pursued persecuting these small time, penny stock, boiler room operations - it simply was not on their radar. That all changed with our small group of investors who stood up and decided we were not going to take "no" for an answer. An intense campaign of soliciting help from US Senators, the SEC, the Texas Attorney General, the Governor, Better Business Bureau, etc.... We finally got the audience we wanted at the SEC and they were successful in disgorging their ill-gotten profits, as well as accessing fines against Jack and his party of scammers (all of which except Jack, appear dormant in their activities for now).
Jack is Darrel Uselton's uncle, who raised Darrel, after his own father passed away. Apparently, Darrel learned well, and started up his own set of scams. Do a google search on the internet and you can pull up a full history on his dealings. Darrel completed the circle of the scam, by creating his own private "market maker" services (primarily thru Ibis, Firemark, Valores, and Protrading.com). The basic scheme is to raid the shares of small companies in need of cash, create false and misleading press releases (Dino Price at Ballyhoo), create a flurry of trading activity between the various controlled companies (Gilchrist, Useltons, JT Cloud and Carmichael at Hepplewhite, the above mentioned companies, Galleria Securities, Oxford Funding, Goldbridge, etc...), spam the internet with emails, cash out....repeat with next unsuspecting company. All of this happening typically unbeknownst to the company (reference these samples):
With so many companies, it is difficult to connect the dots between all of the primary players (Useltons, Gilchrist, Carmichael, Mordekhay, Cloud), the secondary players (Price, Long, Schillar, Gutowsky, Rhodes, etc...) and others, but what is abundantly clear in reading through the company financials of TMDI, OXFD, GFET, and AETE is that there is a systemic funnelling of company shares at par value to all of the above players. Also factual, are the public press releases and web sites, that twist, embellish, mislead, and outright lie about their capabilities. Furthermore, there is a blatent omission of facts regarding their intertwined relationships and conflicts of interest.
As a prime example, one only has to read the glowing report that "independent" financial analyst, Chet Gutowsky gave recently of GFET which includes a disclaimer that he has no financial interest in the company. However, it is clear that as an owner of Goldbridge (along with being an employee of Gilchrist's Southfield Energy), all physically located within the same office suite on Blalock Road in Houston as GFET, TMDI, OXFD, and AETE, it is quite easy to see the conflict of interest and money likely being exchanged for his services as an "unbiased" analyst.
I could go on and on....feel free to read through my postings on the Yahoo Finance message boards for any of the above companies to see the history and linking.
I do not have a premium account on this message board - if you have private messages you wish for me to respond to, please email them to my account: elmoscuba @ yahoo . com
For those of you that recall the press release back in April where GFET announced a Letter of Intent to purchase an Ethanol Plant from SMS Environmental and move it to an undisclosed location in Central America, there is some additional history on this.
SMS changed their name to Sunrise Solar (OTC:SSLR) a few months ago, and has stated in their financials that the plant in question has been sold off to Cargill, Inc. as part of a settlement for previously delinquent debt owed to Cargill. This debt was to have been paid to them beginning in September 2007. By SSLR's own admission in their financials, they only satisfied enough payments to carry them through about December 2007. What is disturbing is that the LOI with GFET was after this fact, when SSLR is believed to have known definitively that the plant had a lien on it and was the likely subject of an impending settlement with Cargill.
One might ask, "so what - how does that affect me here at GFET?". The answer is not so complicated - it has been reported that SSLR's CEO, Eddie Austin, is related to GFET's JT Cloud (cousins?). You should also know that one of SSLR's officers is Thomas Cloud (JT's son). So with the explicit knowledge and non-arms length transaction that was allegedly supposed to go through betweeen SSLR and GFET, both companies management knew it would never go through, but it sure might look good on the books (re: stock price) to have a sale (SSLR revenue stream) and a new, 1st, operating plant (GFET).
But wait, the story gets thicker over the last couple of weeks! Thomas Cloud's other company, Telemedicus (OTC: TMDI - the "virtual ambulance" company), suddenly, and inexplicably decided to change their company focus via an unannounced 1:20 R/S and name change to National Wind Solutions (OTC: NWND #board-9463 ). The only company information we have to date (received posthomulously a week later) is that they "announced new management" (names withheld for some strange reason), moving to a new corporate office (which by the way, I drove by and found it to be unoccupied), and a new investor contact: Kathleen Delany. No surprise to me, but perhaps to others, Ms. Delany is also the CEO of My Healthy Access (OTC: MYHA), a company that was supposed to have an equity stake bought out by Cloud's TMDI company, but mysteriously fell through. Also of no surprise to me, Kathleen is a partner in Eddie Austin's Lake Charles Law firm. Can things get any more incestious than this?
The whole thing just smells fishy to me...anyone else share my feelings or is this all "coincidence" that the trail from Jack and Darrell Uselton has found its way here?
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Posted by: zekel Date: Thursday, April 23, 2009 1:52:27 PM
generic - Not only did GFET do the old switcheroo to a new company (Gulf Alternative Energy Corp - GAEC), but apparently William Carmichael took the technology with him to a new private venture called "Proven Technologies" (no pun intended on who actually "proved" the technology) - http://www.proventechllc.com/managementteam.html
You will see a surprisingly similar device developed by ATNE/Meridian/GFET here:
Williams friends are also on the move....Chet Gutowsky (remember his pumping GFET around the time the Useltons were being arrested?), and Tyson Rhode (fellow cohort at Southfield Energy, Goldbridge Capital at the boiler room on Blalock Road in Houston) have a newly minted company called "Biotricity"
Curious to see their Israeli ties, specifically Mr. Steven Plumb who also runs with another company called Centriforce, Inc. (CNFO.pk). One would tend to believe that Ms. Carly Long would begin to surface somewhere along these lines....but that is just my idle speculation....
Not too surprising that GWND looks very similar to their other sister company, National Wind Solutions - NWND.pk
Copyright Business Wire 2007 CHICAGO--(BUSINESS WIRE)--
Spooz, Inc. (OTC:SPZI) applauds the actions of the SEC, Texas Attorney General and the Harris County District Attorney's office for indictments of fraudulent email spammers to whom Spooz had fallen prey in 2005. As part of the company's financing in 2005, recently indicted Darrel Uselton acquired free trading shares of Spooz, Inc. and launched a spam email campaign to pump the stock. The spam email campaign was perpetrated without the knowledge or consent of Spooz, Inc.
"Spooz does not participate in nor condone spam email for any purpose," stated Darryl Dennis, CMO of Spooz. "We are happy to see that the SEC is addressing this type of fraudulent activity perpetrated against small public companies and their investors. We are glad to know the Useltons won't be harming other unsuspecting companies and their investors."
As part of the investigation into the Uselton spam campaign in July 2006, the SEC subpoenaed documentation from affected companies, including Spooz. Spooz notified both the SEC and the Department of Justice when Spooz learned of the spam campaign and provided complete and thorough documentation of the incident to the SEC including communications from Spooz to Darryl Uselton demanding that he immediately cease and desist from any and all email investor campaigns if, in fact, he was involved in such activities.
"During our history we have been approached by dozens of Investor Relations firms inviting us to participate in email campaigns," said Paul Strickland, Spooz, Inc.'s CEO. "Due to established policy, we have steadfastly resisted such tactics because we believe them to be unprofessional, damaging and manipulative. Spooz adopts policies that generally only exist in far larger public companies because that is where we are headed. Spooz will never compromise its principals and professionalism to artificially increase its share price."
After four years in development, Spooz is preparing to launch its flag-ship financial software SpoozToolz to a growing list of waiting customers. The company has had no further contact with the SEC regarding the Uselton matter and does not anticipate any further effect on Spooz moving forward with its transition to sales of its products.
About Spooz, Inc.
Spooz, Inc., (OTC:SPZI) (www.Spooz.com) a publicly traded company based in Chicago, provides a suite of trading solutions designed to simplify financial analysis and order-entry for professional and active traders. Its flagship middleware product, SpoozToolz(TM) and its modules, add built-in trading capabilities to the popular Microsoft(R) Excel(R) software application, combining a customizable interface, streaming quotes, charts, technical analysis, back testing, and electronic trade execution into a simple add-in that becomes part of the Excel tool bar.
60. Spooz, Inc. (‘Spooz”) is a Chicago-based corporation that purports to provide add-in software programs for the financial trading industry.
61. On or about August 29, 2005, Spooz issued 21.8 million shares of common stock to the Useltons as part of a purported Rule 504 offering. These shares were issued without restrictive legends. During September 2005, the Useltons transferred 9.8 million Spooz shares into two accounts they controlled.
62. Between approximately October 13 and October 27, 2005, the Useltons orchestrated a spam email campaign touting Spooz. The spam emails described Spooz as the “hot pick this week” with a current price of $0.03 and a 1 week target of $0.15 to $0.20. The spam emails also referred to earlier successes, noting that the “last pick was up 80 percent in 2 days this one is expected much higher.”
63. The overwhelming majority of spam emails touting Spooz stock contained no disclaimers. Spam emails circulated from October 14 through October 27, 2005 did not contain any disclaimer. While spam emails disseminated on October 13, 2005 did purport to include a “disclaimer” statement, they did not disclose the Useltons’ role in the promotion nor their intent to sell. The principal spammer charged the Useltons at least $143,871 for the Spooz spamming campaign.
64. During the Spooz spamming campaign, the Useltons sold over 6.3 million shares of Spooz stock, realizing proceeds of over $267,289. The price of Spooz common stock, which generally ranged between $0.011 and $0.023 from June through August 2005, rose to a high of $0.052 on October 17, 2005. Daily trading volume, which never exceeded 500,000 shares between June and August 2005, soared to 11,473,538 shares on October 14, 2005.
65. After the spamming campaign, Spooz stock dropped to below $0.02 and reached a low for the calendar year of $0.0065 on December 14, 2005.
In response to the allegations:
61. Uselton admits that companies he controlled obtained shares of Spooz, Inc. (“Spooz”). Uselton lacks sufficient information to admit or deny the remaining allegations of Paragraph 61.
62. Uselton denies the allegations of Paragraph 62.
63. Uselton denies the allegations of paragraph 63.
-7- 64. Uselton admits that companies that he controlled sold shares of Spooz in the open market at a profit but lacks sufficient information to specify the time of said sales or amount of said profit. Uselton lacks sufficient information to admit or deny the remaining allegations of Paragraph 64.
Here are the consent agreements by both defendants. They don't actually admit to any wrongdoing, but they do promise to never again violate the law, not participate in penny stock sales, and refrain from saying or doing anything that would actually deny the allegations in the lawsuit. And Darrel Uselton has to pay a bunch of money (which varies depending on how much he loses to the state of Texas in The State of Texas v. Approximately $4,238,866.72).
From the latest annual report: http://www.otcmarkets.com/financialReportViewer?symbol=QUAN&id=79933 "On March 7, 2012, we issued 22,214,109 shares of common stock to Sayword Investments, SP.ZO.o (a Polish company) for the conversion of debt in the amount of $444,282. This resulted in a change of control of the Company." [note: the previous owner was Wisconsin Opportunity Funds, S.A. out of Panama thru JT Cloud's local agent Cesar Rivera: http://ohuiginn.net/panama/company/id/628053 ]
JT and Robert have set up several other Polish entities such as: Glendive Investments (RBCC) Rosentax (NTRR) Paradium Capital (GTSO) Cambridge Securities Galleria Securities Eluru Investments Vilar Investments
Regarding the Uselton's, JT Cloud is a well known long time associate of both Jack and Darrel - specifically on companies like these SEC suspended gems: GFET, SSLR, GSLO and others.
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