SEDAR files, checked through them and LSL was former first base, and onto second instantly, but this time as a potential short. And when I saw the true name of the individual who was running the show from backstage, a certain infamous Bobby Genovese, it went right to a home run. On Friday morning Then, my big idea was shattered by this (22), an SEC news release halting trading in the stock.
We can translate that for you. It means that the SEC believes there reaches least one large holder of LSL stock (and probably several) that has not done the right thing and filed their total keeping in the stock to the regulators. What follows is an instant rundown of datapoints on the organization framework and folks behind LSL, unearthed from your author in the time Wednesday to Friday as well as a few of the many data points exposed by the survey. It’s much less long as it was going to be if the SEC hadn’t halted the stock and scuppered the short play, but you should get by it plenty of ideas.
The company has around 81m stocks excellent. Around 65m of those shares were issued at a portion of a penny and are now held in offshore accounts (that’s reliable off-record). The majority of those 65m very cheap shares are kept by Robert Donald Bruce Genovese, recognized to friends and foes alike as Bobby Genovese or sometimes simply “Bobby G”. We’ll call him ‘Genovese’ from here on because I have no desire ever to be on first-name conditions with this scumbag.
Genovese is a cent stock pump and dump scam runner and has made millions of dollars for his own back pocket by unscrupulously ripping off everyone over time. That’s no opinion, that’s an undeniable fact, as anyone who watched the action and occasions around “Clearly Canadian”, a mineral drinking water company that shot dived and higher lower in the period 2005 to 2008 will testify.
According to SEDI insider deal records Genovese got access to large numbers upon millions of very cheap shares and proceeded to dump those millions of shares on the public while responsible for the company at that time. 3) collapsed back into the pennies region. He used aggressive pumping techniques highly, including paying pumpers to do his dirty work and sucker in as many retail shareholders as possible, when the stock was relentlessly high enough he cashed in. Canadian’ is not his only pump and dump scam either ‘Clearly, not by a long chalk.
- ► May (5) – ► May 25 (1)
- Combination of long term and brief term
- Vie Financial Group, Inc
- Jamnalal Bajaj Institute of Management Studies, Mumbai
- 24 IA 19.9%
The last 20 years is littered with the remains of companies he has marketed, pumped, dumped, and cashed in with, all to the retail shareholders’ chagrin. The desk above is from the mentioned record (I asked for, and was denied authorization from the authors to pass on the whole PDF, but was granted authorization to test from it, like the sampling of this table). For even more reading I also point you towards to this statement (26) by Carol Remond of Dow Jones Newswires dated November 2009 that goes into the world of Genovese plus some of the scams that he has effectively led.
Genovese is currently by all accounts an extremely wealthy man, but he’s made his money the parasite’s way. Moving back to LSL, in August and September 2012 Genovese cajoled or employed for cash a bevy of newsletter writers into promoting his stock. The surface of the list comes James West from the Midas Letter, one of the very most two-faced and unethical of all mining newsletter writers (and my celebrities, there’s competition for that mantle) to pump the business to his clients. Along with the others brought on the table for the same purposes West was paid handsomely to create up LSL in glowing terms and got a great deal of people up to speed, pushing the talk about price higher on no obvious news.
A pump and dump have to be centered on something of value (or at least something that may be stated as having value) and in cases like this, LSL’s fortunes have been tied to the Trinity Silver property in Nevada, USA. Here’s another brief rundown of the essential factors of Trinity. 5m on its development to be able to earn 70% rights.
The heart of the Trinity property isn’t a lot more than a mined-out deposit. It was mined by the Borax Company of USA in the period 1987 to 1989, when that operation mined out the best rock at the heart of the deposit grading around 6oz/t magic (around 185 g/t) in oxide host.