Replies to post #16977 on Geobio Energy (fka GBOE)

[Reality2]

Clayton Shelver and David Otto did exactly the same with a company called Secure Assetts Reporting SARS and got into the penny shares as SARO. They looked around for companies to take over and found one in the UK called Andronics. They approached the shareholders and made a deal to take the company over. They went out to the U S market and raised over $20M as a result.While al the negotiations were going on they racked up high fees for the 'work' they did. They took over the employees of Andronics Ltd under a new company they formed SARS Andronics Ltd a wholly owned subsidiary of SARS, They signed agreements to rent premises and to take over the employees but they did not pay tax nor employees government health insurance. They then reneged on the agreement but transferred the assetts to another company they borrowed money from in U S. This company then formed a company called Terramar Inc and a wholly owned subsidiary in the U K called Terramar Ltd.They then made the majority of the SARS Andronics Ltd employees except 4 redundant. They did not pay any redundancies to these employees and were sued in the U K court and severly criticised for their behaviouras Clayton Shelver and David Otto were the directors of SARS Andronics Ltd. They did a moon lit flight without paying Taxes employees contributions rent and other suppliers and SARS ANdronics Ltd was forced into liquidation. They allegedly misused credit cards belonging to one of the directors of Andronics Ltd to buy equipment and the police are looking to interview them concerning this alleged fraud. The FBI are also allegedly investigating them for their conduct in running SARS. David Otto was also investigated for alleged fraud on another penny stock company and paid money to the SEC without admitting guilt.This was reported in Seattle.
If you do D/D on SARS(SARO) you will see the same pattern of operation as what has been going on now with GBOE.
I hope this helps. If you need any further information just ask.
Incidently if you hear of them trying to raise money for this or any other project I would like to know so I can at least let potential investors know what they are getting themselves into. There are a lot of very angry people who lost a LOT of money investing with these guys

[Reality2]

Two Seattle attorneys accused in alleged stock scam


By LEVI PULKKINEN <mailto:[e-mail]>
SEATTLEPI.COM STAFF

Federal regulators have filed a lawsuit against two Seattle attorneys
accused in an alleged stock scam involving nonexistent anti-aging products.
According to a documents released Monday by the Securities and Exchange
Commission, Seattle attorneys David Otto and Todd Van Siclen were hired in
2004 by a company called MitoPharm, which purported to produce herbal
nutritional supplements and beverages.
Attorneys for the SEC say Otto, 50, gained control of MitoPharm through a
complex series of mergers and stock sales.
The SEC attorneys allege in court documents that Otto, Van Siclen and others
then began promoting the company's supposed products -- Restorade and
Stamina Solution -- in 2007, at a time when the company had no way of
producing or distributing either item.
In the months that followed, SEC attorneys claim the company sent out a
flurry of press releases aimed at boosting the value of MitoPharm stock. At
the same time, Otto allegedly began off-loading shares of the company.
The SEC claims the move netted Otto nearly $1.3 million while crushing
MitoPharm's stock price, driving it from a per-share high in August 2007 of
$2.31 to 5 cents a share in November 2007.
In addition to Otto and Van Siclen, MitoPharm CEO Pak Peter Cheung of
Vancouver, B.C., and stock promoter Charles Bingham are named in the suit.
The SEC has asked that financial penalties be imposed on the men, as well as
administrative sanctions barring them from involvement in similar dealings.
Levi Pulkkinen can be reached at 206-448-8348 or
[e-mail].

[Reality2]

Go to the SARO posts and see what the people have to say about these guys. Anyone getting involved in any company where these guys have control needs a brain examination. Names to be avoided David Otto Clayton Shelver Chris Wain and Alan Chaffee all of whom have or are working out of Seattle Washington