I believe UMED is an accounting fraud
Post# of 16
Posted On: 01/01/2016 2:09:08 AM
I believe President R. Halden and Randy Moseley, CFO are nothing but pump and dump scammers.
I believe Moseley hires PCAOB auditors that are single persons that do not provide auditing as per SEC rules and regulations. In fact, for UMED, a recent auditor was censured by the SEC for not actually auditing the financials.
I believe this company has zero assets. The tea farm, yes a tea farm in Hawaii, provided overstated assets for three years.
Other assets include a patent for gas to liquid technology to convert gas in the oilfield to liquid fuel. The patent was issued years ago. With oil price at 37, and the value of the patent debatable, i.e. If it was worth something, then why didn't they build a plat, or sell the patent? My view is because it isn't worth the piece of paper that the patent is printed on.
As of 12/31/2015, I believe there are zero assets. The mining claim has been capitalized which I believe is a violation of Accounting rules. Prior annual statements state that the company is waiting for assay of the mining claim. It seems that they have been waiting for years for the assay test results. My guess is that the mining claim is worth nothing, but costs the company a thousand a year to keep so that they can overstate in in their assets
On the liability side of the balance sheet, the company is building up accrued payables to officers and directors that own the majority of the stock.
Why are they doing this - to provide stock to themselves by converting the payable to stock. How are they getting paid? My belief is by issuing false news releases such as the recent news release where they say they are going to be building a gas to liquids plant. I believe the company has no money, and no intent to build anything except a paper, hot air, news release machine, rather than a real start up company.
I believe management of UMED has done many things like this before at KingFisher Financial, Urban Television Network Corporation, and others. I believe Moseley and Halden are nothing but penny stock promoters. And if the regulators are reading this - I believe they both provide stock to their relatives and friends who trade the stock and make money from less informed and innocent people.
Shine a light on penny stock fraud. Step up, investigate this fraud (in my opinion) and prevent underhanded insiders and their cohorts from defrauding innocent people.
I believe Moseley hires PCAOB auditors that are single persons that do not provide auditing as per SEC rules and regulations. In fact, for UMED, a recent auditor was censured by the SEC for not actually auditing the financials.
I believe this company has zero assets. The tea farm, yes a tea farm in Hawaii, provided overstated assets for three years.
Other assets include a patent for gas to liquid technology to convert gas in the oilfield to liquid fuel. The patent was issued years ago. With oil price at 37, and the value of the patent debatable, i.e. If it was worth something, then why didn't they build a plat, or sell the patent? My view is because it isn't worth the piece of paper that the patent is printed on.
As of 12/31/2015, I believe there are zero assets. The mining claim has been capitalized which I believe is a violation of Accounting rules. Prior annual statements state that the company is waiting for assay of the mining claim. It seems that they have been waiting for years for the assay test results. My guess is that the mining claim is worth nothing, but costs the company a thousand a year to keep so that they can overstate in in their assets
On the liability side of the balance sheet, the company is building up accrued payables to officers and directors that own the majority of the stock.
Why are they doing this - to provide stock to themselves by converting the payable to stock. How are they getting paid? My belief is by issuing false news releases such as the recent news release where they say they are going to be building a gas to liquids plant. I believe the company has no money, and no intent to build anything except a paper, hot air, news release machine, rather than a real start up company.
I believe management of UMED has done many things like this before at KingFisher Financial, Urban Television Network Corporation, and others. I believe Moseley and Halden are nothing but penny stock promoters. And if the regulators are reading this - I believe they both provide stock to their relatives and friends who trade the stock and make money from less informed and innocent people.
Shine a light on penny stock fraud. Step up, investigate this fraud (in my opinion) and prevent underhanded insiders and their cohorts from defrauding innocent people.
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