MoMoRaptor Monday, 06/11/12 09:57:47 AM
Re: EarnestDD post# 3891
Post # of 12216
Mexican court has thrown out bandera's frivolous lawsuit and no other court case has been filed in mexico
bandera gold auditors Saturna Group Chartered Accountants LLP are deeply involved in the bandera gold money laundering scheme
http://www.canada.com/vancouversun/news/busin...mp;k=50834
Quote:
More risky business on the OTC bulletin board
On Nov. 11, I reported that U.S. penny stock hypster Joe Marino was urging investors to buy shares of Global Health Ventures Ltd., a Vancouver company that trades on the dreadful OTC Bulletin Board in the United States.
BY VANCOUVER SUN DECEMBER 2, 2009
On Nov. 11, I reported that U.S. penny stock hypster Joe Marino was urging investors to buy shares of Global Health Ventures Ltd., a Vancouver company that trades on the dreadful OTC Bulletin Board in the United States.
"Load-up the truck and buy shares in Global Health (GHLV:OTCBB) ... and get ready to QUADRUPLE your money in the next 60 days," Marino screamed in his newsletter, The Stock Profiteer.
Global Health claims to be developing a drug, called X-Excite, to treat erectile dysfunction. The company's founder and president is Dr. Hassan Salari, a former UBC associate professor of medicine. He acquired 10 million shares for $0.0001 each while the company was still in its formative stages.
Research for Global Health is conducted by Globe Laboratories Inc., a private company run by Salari's son, Dr. Julian Salari. The agreement calls for Global Health to pay Globe $50,000 per quarter for development expenses.
Marino said the prospect of a male enhancement drug rivaling Viagra and Cialis "has got Big Pharma drooling."
"Do you think Pfizer [which makes Viagra] is going to stand idly by when X-Excite -- a faster, safer and all around better drug -- takes the erectile dysfunction market by storm?" Marino asked.
"Or how about Merck, Eli Lilly or GlaxoSmithKline? .... Of course not. They're going to take over GHLV and fast, handing investors massive windfall profits in the process."
An electronic version of this tout sheet was sent by e-mail to millions of prospective investors. A disclaimer revealed that a company called Emma Marketing Services Inc. paid Stock Profiteer $500,000 US to create and distribute the newsletter. Who paid Emma has never been revealed.
Whoever was behind the tout, it had the desired result: The stock, which was trading at 50 cents in mid-October, more than doubled to $1.16 in heavy trading volume.
The B.C. Securities Commission was not amused. It issued a cease-trade order on Nov. 10, but lifted it the following week after Salari insisted he had nothing to do with the newsletter.
"That doesn't mean we have closed the file," Martin Eady, director of compliance for the B.C. Securities Commission, said Tuesday. "We have asked a number of questions and are following up."
Salari played key roles in two other B.C. pharmaceutical companies that did not fare well. During the 1990s, he was president and CEO of Inflazyme Pharmaceuticals Ltd., a Richmond company that tried unsuccessfully to develop asthma, allergy and anti-inflammatory drugs. And from 1998 to 2007, he served as president and CEO of Chemokine Therapeutics Inc., which generated nothing but losses. As it is now doing for Global Health, Globe Laboratories conducted Chemokine's research on a contract basis, at the rate of cost plus two per cent.
Salari is also closely associated with another Vancouver pharmaceutical company that is in the process of going public on the bulletin board, Neurokine Pharmaceuticals Inc.
According to a registration statement filed with the U.S. Securities and Exchange Commission in August, Neurokine plans to tweak existing anti-inflammatory drugs to create new drug therapies for the treatment of neurological impairment, Alzheimer's disease and back pain conditions.
Salari served as president and then chairman of Neurokine until June this year, but he and his wife remain major shareholders. They acquired most of their 3.25 million shares at dirt-cheap prices of $0.001 to $0.0001 per share. Globe Laboratories also acquired two million shares at a deemed value of 25 cents each in exchange for certain licence rights.
Neurokine's president and CEO is Ahmad Doroudian. He is the former founder, chairman and CEO of PanGeo Pharma Inc., a TSX-listed pharmaceutical company that achieved significant revenues in 2002, then ran into serious financial problems and was forced into liquidation in 2004.
It is interesting to note that one of Neurokine's senior officers is Penny Green, a founding partner of the Bacchus Law Group in Vancouver. As I have noted many times in this column, Green has helped take many obvious sham companies onto the bulletin board.
But in this case, she is not acting as the firm's lawyer, rather as a director and chief financial officer. And although I have my doubts that Neurokine will develop into a viable company, I do not believe it is a sham.
Still, Green has been associated with so many laughable business deals over the years that I am not encouraged by her involvement in this company. There is also no indication in her curriculum vitae that she has any finance or accounting skills, which makes her appointment as CFO rather odd.
It is also interesting to note that Neurokine's auditors are Saturna Group Chartered Accountants LLP, formed last year by Henry Chow and Lonny Wong.
Chow and Wong were previously auditors at Manning Elliott LLP, which worked hand-in-hand with Green to float numerous sham companies on the bulletin board. A couple of years ago, Manning Elliott decided the reputational risk of dealing in these sorts of companies was too high, and wisely moved out of the field.
Chow and Wong, however, haven't been quite as reticent. Among their more recent clients is Mantra Venture Group Inc., whose president Larry Kristof was caught in the middle of a drug money seizure in Bellingham several years ago. Another client, Wolverine Exploration Inc., has seed shareholders who figured in other bulletin board scandals. Given their experience at Manning Elliott, they should know that this is risky business, in more ways than one.
dbaines@vancouversun.com
Re: EarnestDD post# 3891
Post # of 12216
Mexican court has thrown out bandera's frivolous lawsuit and no other court case has been filed in mexico
bandera gold auditors Saturna Group Chartered Accountants LLP are deeply involved in the bandera gold money laundering scheme
http://www.canada.com/vancouversun/news/busin...mp;k=50834
Quote:
More risky business on the OTC bulletin board
On Nov. 11, I reported that U.S. penny stock hypster Joe Marino was urging investors to buy shares of Global Health Ventures Ltd., a Vancouver company that trades on the dreadful OTC Bulletin Board in the United States.
BY VANCOUVER SUN DECEMBER 2, 2009
On Nov. 11, I reported that U.S. penny stock hypster Joe Marino was urging investors to buy shares of Global Health Ventures Ltd., a Vancouver company that trades on the dreadful OTC Bulletin Board in the United States.
"Load-up the truck and buy shares in Global Health (GHLV:OTCBB) ... and get ready to QUADRUPLE your money in the next 60 days," Marino screamed in his newsletter, The Stock Profiteer.
Global Health claims to be developing a drug, called X-Excite, to treat erectile dysfunction. The company's founder and president is Dr. Hassan Salari, a former UBC associate professor of medicine. He acquired 10 million shares for $0.0001 each while the company was still in its formative stages.
Research for Global Health is conducted by Globe Laboratories Inc., a private company run by Salari's son, Dr. Julian Salari. The agreement calls for Global Health to pay Globe $50,000 per quarter for development expenses.
Marino said the prospect of a male enhancement drug rivaling Viagra and Cialis "has got Big Pharma drooling."
"Do you think Pfizer [which makes Viagra] is going to stand idly by when X-Excite -- a faster, safer and all around better drug -- takes the erectile dysfunction market by storm?" Marino asked.
"Or how about Merck, Eli Lilly or GlaxoSmithKline? .... Of course not. They're going to take over GHLV and fast, handing investors massive windfall profits in the process."
An electronic version of this tout sheet was sent by e-mail to millions of prospective investors. A disclaimer revealed that a company called Emma Marketing Services Inc. paid Stock Profiteer $500,000 US to create and distribute the newsletter. Who paid Emma has never been revealed.
Whoever was behind the tout, it had the desired result: The stock, which was trading at 50 cents in mid-October, more than doubled to $1.16 in heavy trading volume.
The B.C. Securities Commission was not amused. It issued a cease-trade order on Nov. 10, but lifted it the following week after Salari insisted he had nothing to do with the newsletter.
"That doesn't mean we have closed the file," Martin Eady, director of compliance for the B.C. Securities Commission, said Tuesday. "We have asked a number of questions and are following up."
Salari played key roles in two other B.C. pharmaceutical companies that did not fare well. During the 1990s, he was president and CEO of Inflazyme Pharmaceuticals Ltd., a Richmond company that tried unsuccessfully to develop asthma, allergy and anti-inflammatory drugs. And from 1998 to 2007, he served as president and CEO of Chemokine Therapeutics Inc., which generated nothing but losses. As it is now doing for Global Health, Globe Laboratories conducted Chemokine's research on a contract basis, at the rate of cost plus two per cent.
Salari is also closely associated with another Vancouver pharmaceutical company that is in the process of going public on the bulletin board, Neurokine Pharmaceuticals Inc.
According to a registration statement filed with the U.S. Securities and Exchange Commission in August, Neurokine plans to tweak existing anti-inflammatory drugs to create new drug therapies for the treatment of neurological impairment, Alzheimer's disease and back pain conditions.
Salari served as president and then chairman of Neurokine until June this year, but he and his wife remain major shareholders. They acquired most of their 3.25 million shares at dirt-cheap prices of $0.001 to $0.0001 per share. Globe Laboratories also acquired two million shares at a deemed value of 25 cents each in exchange for certain licence rights.
Neurokine's president and CEO is Ahmad Doroudian. He is the former founder, chairman and CEO of PanGeo Pharma Inc., a TSX-listed pharmaceutical company that achieved significant revenues in 2002, then ran into serious financial problems and was forced into liquidation in 2004.
It is interesting to note that one of Neurokine's senior officers is Penny Green, a founding partner of the Bacchus Law Group in Vancouver. As I have noted many times in this column, Green has helped take many obvious sham companies onto the bulletin board.
But in this case, she is not acting as the firm's lawyer, rather as a director and chief financial officer. And although I have my doubts that Neurokine will develop into a viable company, I do not believe it is a sham.
Still, Green has been associated with so many laughable business deals over the years that I am not encouraged by her involvement in this company. There is also no indication in her curriculum vitae that she has any finance or accounting skills, which makes her appointment as CFO rather odd.
It is also interesting to note that Neurokine's auditors are Saturna Group Chartered Accountants LLP, formed last year by Henry Chow and Lonny Wong.
Chow and Wong were previously auditors at Manning Elliott LLP, which worked hand-in-hand with Green to float numerous sham companies on the bulletin board. A couple of years ago, Manning Elliott decided the reputational risk of dealing in these sorts of companies was too high, and wisely moved out of the field.
Chow and Wong, however, haven't been quite as reticent. Among their more recent clients is Mantra Venture Group Inc., whose president Larry Kristof was caught in the middle of a drug money seizure in Bellingham several years ago. Another client, Wolverine Exploration Inc., has seed shareholders who figured in other bulletin board scandals. Given their experience at Manning Elliott, they should know that this is risky business, in more ways than one.
dbaines@vancouversun.com
