1. Jason Bogutski of Signature Stock Transfer You
Post# of 11039
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Posted On: 03/03/2021 9:15:59 PM
1. Jason Bogutski of Signature Stock Transfer
You make an interesting point that I hadn't previously considered: Why would Bogutski continue to represent CRGP as the Transfer Agent after having incurred significant legal expenses defending himself against a years long lawsuit involving the infamous dividend of August, 2015? Especially once the lawsuit died down and the stock rarely traded on the grey market (thanks to Finra's U3 halt), he could have easily dropped his representation. Yet he remains as TA.
Also, I find it interesting that on July 18, 2014 Bogutski retired as a limited participant with the DTCC. At the time I thought he was phasing out of the TA business, yet he continues to represent 142 companies as their TA. Is it unusual for a TA to work outside of the purview of the DTCC?
2. Kareem Mansour of SSM Monopoly Corporation
Intriguing new player to the CRGP saga. At least he has an address and a verifiable business profile in New York so his chances of being a phantom are negligible. So he registers as SSM in New York in August 2020 and three months later begins a stretch in which he chooses 5 (at last count) Nevada based companies he seeks to gain custodianship. In January he creates a website and a twitter account but to date the website is largely boiler plate and the twitter account has all of five tweets, 4 on AVV* and the most recent yesterday regarding the disputed reinstatement of CRGP. This is not your ordinary 'shell hijacker' by any means. He is keeping a very low profile, doesn't seem particularly interested in using social media to attract attention, and of all things seems perturbed that someone else would pay to improve the condition of a stock for which he has gained control. He announced via twitter that he was contacting his lawyer to address the Nevada situation but the Nevada SOS still lists CRGP as having just been reinstated with a new A/S of 3.45 billion, down from 145 billion.
Ordinarily I would think Kareem would be more than pleased with this development - with no effort on his part his stock suddenly becomes much more attractive - and valuable - to potential suitors. But he cries foul. Interesting..... I would also note that Kareem had at least 3 months to research what companies he would like to pursue via custodianship before choosing the five we now know about. With a very simple google search I was able to discern most of the issues surrounding CRGP going back to 2015, including the potential legal liabilities. Yet he decided to move forward with CRGP, and when handed an unexpected gift he balked, or so he says.
3. The default judgment of $4 million
Again, it wasn't particularly difficult for me to track down this piece of information, pretending that I didn't already know it. I would assume that Kareem knew this beforehand, and that any entity seeking to purchase a 'clean shell' from Kareem would do some level of minimal due diligence to determine that a likely $4 million bill would need to be addressed. Kareem paid $270 to file for custodianship in Nevada, was granted custodianship, then ghost Clement (CEO for less than a year) gets CRGP reinstated and drops the A/S by an astounding 98%. Why did Clement do this just after he lost control of the stock? He had 10 months to act but did nothing, then when given the opportunity to fight the custodianship in late December he didn't even respond to the summons, basically giving up the right to CRGP without even trying. And THEN, a couple weeks after he loses control of CRGP he makes his FIRST MOVE as (former?) head of CRGP and improves the condition of the stock FOR THE GUY WHO TOOK IT FROM HIM. So weird. At least as the ghost Adam actions were taken that benefitted CRGP (and presumable Adam) while Adam was actually in charge. I hope you can see how flabbergasted I am that a brand new CEO would do nothing until he lost control 10 months later, and then act to help the guy who took it all away from him.
Random thoughts.......
Strange goings on every which way you look. Finra allowed CRGP's special dividend to go thru in the summer of 2015. The DTCC refused to reverse the dividend when asked in August 2015. CRGP was halted by Finra in September 2015 and sent to the greys but was never suspended by the SEC. COR sued, the judge surprisingly did not grant a receivership. COR pursued the case for years despite getting most or all of their losses back. On April 3, 2020 CRGP was reinstated to the pinks. And the players involved in this stock have been relatively quiet, if not (literally) invisible, in a world that typically sees folks screaming from the rooftops. So what is going on?
You make an interesting point that I hadn't previously considered: Why would Bogutski continue to represent CRGP as the Transfer Agent after having incurred significant legal expenses defending himself against a years long lawsuit involving the infamous dividend of August, 2015? Especially once the lawsuit died down and the stock rarely traded on the grey market (thanks to Finra's U3 halt), he could have easily dropped his representation. Yet he remains as TA.
Also, I find it interesting that on July 18, 2014 Bogutski retired as a limited participant with the DTCC. At the time I thought he was phasing out of the TA business, yet he continues to represent 142 companies as their TA. Is it unusual for a TA to work outside of the purview of the DTCC?
2. Kareem Mansour of SSM Monopoly Corporation
Intriguing new player to the CRGP saga. At least he has an address and a verifiable business profile in New York so his chances of being a phantom are negligible. So he registers as SSM in New York in August 2020 and three months later begins a stretch in which he chooses 5 (at last count) Nevada based companies he seeks to gain custodianship. In January he creates a website and a twitter account but to date the website is largely boiler plate and the twitter account has all of five tweets, 4 on AVV* and the most recent yesterday regarding the disputed reinstatement of CRGP. This is not your ordinary 'shell hijacker' by any means. He is keeping a very low profile, doesn't seem particularly interested in using social media to attract attention, and of all things seems perturbed that someone else would pay to improve the condition of a stock for which he has gained control. He announced via twitter that he was contacting his lawyer to address the Nevada situation but the Nevada SOS still lists CRGP as having just been reinstated with a new A/S of 3.45 billion, down from 145 billion.
Ordinarily I would think Kareem would be more than pleased with this development - with no effort on his part his stock suddenly becomes much more attractive - and valuable - to potential suitors. But he cries foul. Interesting..... I would also note that Kareem had at least 3 months to research what companies he would like to pursue via custodianship before choosing the five we now know about. With a very simple google search I was able to discern most of the issues surrounding CRGP going back to 2015, including the potential legal liabilities. Yet he decided to move forward with CRGP, and when handed an unexpected gift he balked, or so he says.
3. The default judgment of $4 million
Again, it wasn't particularly difficult for me to track down this piece of information, pretending that I didn't already know it. I would assume that Kareem knew this beforehand, and that any entity seeking to purchase a 'clean shell' from Kareem would do some level of minimal due diligence to determine that a likely $4 million bill would need to be addressed. Kareem paid $270 to file for custodianship in Nevada, was granted custodianship, then ghost Clement (CEO for less than a year) gets CRGP reinstated and drops the A/S by an astounding 98%. Why did Clement do this just after he lost control of the stock? He had 10 months to act but did nothing, then when given the opportunity to fight the custodianship in late December he didn't even respond to the summons, basically giving up the right to CRGP without even trying. And THEN, a couple weeks after he loses control of CRGP he makes his FIRST MOVE as (former?) head of CRGP and improves the condition of the stock FOR THE GUY WHO TOOK IT FROM HIM. So weird. At least as the ghost Adam actions were taken that benefitted CRGP (and presumable Adam) while Adam was actually in charge. I hope you can see how flabbergasted I am that a brand new CEO would do nothing until he lost control 10 months later, and then act to help the guy who took it all away from him.
Random thoughts.......
Strange goings on every which way you look. Finra allowed CRGP's special dividend to go thru in the summer of 2015. The DTCC refused to reverse the dividend when asked in August 2015. CRGP was halted by Finra in September 2015 and sent to the greys but was never suspended by the SEC. COR sued, the judge surprisingly did not grant a receivership. COR pursued the case for years despite getting most or all of their losses back. On April 3, 2020 CRGP was reinstated to the pinks. And the players involved in this stock have been relatively quiet, if not (literally) invisible, in a world that typically sees folks screaming from the rooftops. So what is going on?
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