May 8, 2013: Well Eco-Trade Corporation ( BOPT ) managed to get itself trading again, albeit on the grey sheets, usually a graveyard for penny stocks that have been over manipulated and overly scam-ridden.
Still the clowns running the circus, couldn't simply announce that the stock was trading again. They once again revealed their true colors, by packing their press release with lies, contradictions and lies that contradict old lies. Let's take a look.
According to Wednesday's press release ," it appears, based on information provided by the British Columbia Securities Commission ("BCSC"), the Company was the subject of a paid internet promotional campaign disseminating various incorrect statements about the Company and the prospects for the Company’s share price (the Promotion) ". No kidding? Really and truly? Surprise! Now with this statement, BOPT divested themselves of their old tried and true lie, spewed in an April 17th press release , where they implied that the halt was the result of a " coordinated effort to short the common stock ". Of course that theory went out the door when the OTC Markets April 15 short report revealed that there were only 39,021 shares short. Since the stock only traded for two days afterward, and at much lower prices, it would be ridiculous to believe that the current short number is much more than that.
So the old stand by of "blame the shorts" is gone. As usual, the share price got hammered because the insiders were dumping their intrinsically worthless, certainly overpriced, stock.
Continuing with the press release:
The Promotion included materials fashioned to mimic an analyst report recommending the Company’s shares. However, the promotional material later discloses in fine print that the report is a paid advertisement published by certain penny stock promotion websites. The materials disclose further that the advertisement was paid for by an entity named Beijing Zhong Jia Ke Shi Network Educational Technology Co. Ltd. (“Beijing Technology”), and that Beijing Technology had budgeted up to $3,275,000 for the dissemination of the information contained in the promotional materials.
The Company, all of its officers, directors, employees, advisors, and consultants, have uniformly confirmed that they:
- did not authorise, permit, or participate in any form, in the Promotion;
- were wholly unaware of the Promotion until the BCSC brought its existence to their attention;
- have never engaged, contacted, or had any relationship with, “Beijing Technology”; and
- did not participate in, or benefit from, the Trading in any form.
We're just going to call the so-called confirmation a bold-faced lie in it's entirety, with the caveat that we believe that the company has no relationship with "Beijing Technology", because there is no such entity. It's all a sham.
One big, almost comical lie, well adorned with crocodile tears, is BOPT 's attempt to feign ignorance, which nobody with a single brain cell is believing. They knew. Of course they knew. First of all, are they attempting to get everyone to believe that nobody noticed the sudden increase in volume? And that nobody looked into it? Come on! All this does is show how much these scam artists rely on the naivety of penny stock players.
But what really proves that not only did they know about the promotion, but that they knew about it well in advance, is the email communications between BOPT director, Kevin McLean and litigant George Sharp, which we discussed in an earlier advisory . Not once did Mr. McLean deny any knowledge of a coming promotion, he warned Mr. Sharp, that he was not to breach his previous settlement agreement with the company, in which Sharp was paid $25,000 for previous transgressions.
Even more telling is the BOPT responsive press release to Sharp's press release . Sharp refers to the ongoing promotion, while BOPT 's response was only to concern itself with Sharp's alleged breach of the settlement agreement. Are we to believe that BOPT did not read Sharp's press release in its entirety?
A big laugh goes to BOPT 's claim that the "officers, directors, employees, advisors, and consultants" did not authorize or benefit from the promotion. What they maybe left out of that statement was the word "current". Just days before the Pump & Dump began, William Lieberman , a well known penny stock fraudster, resigned his posts with BOPT . Be sure that Lieberman or his nominees made out big time.
It's cute that BOPT makes it seem like the British Columbia Securities Commission (BCSC) revelation had everything to do with the halt. In truth, the BCSC issues cease trade orders on hundreds of OTC stocks. All it means is that residents of British Columbia cannot trade the stock. The BCSC cannot halt a stock trading in the United States. Likewise, the promotion per se, was not the reason for the trading halt and demotion to the grey sheets. If stocks were halted simply on the basis of some phony entity pretending to pony up millions of dollars for a promotion, then a lot more stocks would be halted in mid Pump & Dump. Certainly not a single Awesome Penny Stocks promotion subject would ever trade.
No, there's more than meets the eye here. Unfortunately, we may never know the onus for FINRA's unusual action, although heaven knows, there were plenty of grounds to do so. Whatever the reason, rest assured, innocent and naive investors were spared millions of dollars in losses.
http://www.pumpsanddumps.com/2013/05/bopt-goo....html#more
