Replies to post #340 on Rainbow Coral Corp (fka RBCC)

[Voices of Reason]

lorena - the company has a corporate headquarters in a strip mall at 495 Grand Blvd., Suite 206, Miramar Beach, Florida. This is a virtual office/phone bank shared with a number of other businesses, including sister companies ASCC and FTTN. The company is the creation of Kathleen Delaney, Robert Federowicz, and the late JT Cloud (ref. beneficial ownership is Glendive Investments - a Polish offshore entity created by Federowicz and Cloud). Delaney, Cloud, Cindy Morrissey (Kathleen's sister), Federowicz (his sister was married to JT) have a long a sordid history of running penny stock scams - several of which have been summarily shut down by the SEC - including: EHSI, EVSO, ONYX, GSLO, GAEC, and others:
http://www.sec.gov/news/press/2011/2011-120.htm
http://www.sec.gov/litigation/suspensions/2012/34-66262-o.pdf
http://www.sec.gov/litigation/suspensions/2009/34-60410.pdf

RBCC's financials show that it has a Fish Farm business which makes a modest return (net ~$30k per year) selling coral and other fish accessories. RBCC's bioscience division is pure fantasy at the moment - they have made announcements of buying up to a 5% equity stake in privately held n3D. Their press releases call this a "joint venture", but there is no revenue (or cost sharing) that has been made public. Despite having an agreement in place for almost a year, the alleged equity stake has yet to show up in the financials. RBCC further states that they have a pending JV with AMBS - this has been going on for months without any results. Patrick Brown, RBCC's successor to Cindy Morrissey, has no experience in the bioscience industry.