22 Oct Abby, Inc. (ABBY) – From Canada to Thailand
[b]ABBY[/b] [i]Abby, Inc.[/i]
[b]Westerose, Alberta (Canada)[/b]
ABBY came onto our radar recently when a 5 for 1 forward split hit the daily list. Here we have a company who purchased some gas leases in Thailand and Canada and has yet to generate any revenues. Quite frankly, they never will. ABBY is looking for a way other than revenue producing gas operations to capitalize on those leases. Let's take a look:
Don Thompson: Original President, Chief Executive Officer, Secretary, Treasurer and Director (now Director)
Thomas Forzani: Current President, Secretary and Treasurer.
Randal Croteau: Current Director
Abby, Inc. was incorporated under the laws of the State of Colorado on Dec 11, 2000.
Don Thompson, 59, had been ABBY President, Chief Executive Officer, Secretary, Treasurer and Director since May 7, 2008.
I'll touch on it later, but the exact wording in the following has been used before by Don. He ages well. 😉
[color=red][b]The set up[/b][/color]
The Company was dormant until July 2009, when it
entered into an agreement to acquire an oil and gas lease in Thailand.
They reported working capital of $28,475 as at November 30, 2009.
S1 filed December 17th, 2009 registering 9,000,000 seedholder shares to be resold.
Address at the time of incorporation (and currently) is: 60 Auburn Bay Ave. SW Calgary, AB T3M 0K7
[b]Oil and Gas Leases[/b]
The Company purchased an oil & gas lease (with no viable reserves identified) located in Phetchabun, Thailand.
On July 17, 2009 ABBY entered into an agreement with Brian Wilkinson to acquire a 100% interest in the Petchuban gas concession, in consideration for 3,000,000 shares of common stock.
In May of 2010, the Company paid $6,000 to Mitchell Vestco of Calgary, Alberta, to secure a gas field (again with no viable reserves identified) in Westerose, Alberta.
In July, 2010, another $1,000 was paid to complete the deposit requirement for this gas field.
[b]Share issuances / structure at incorporation:[/b]
Authorized capital stock consists of 500,000,000 shares of common stock at a par value of $0.001 per share.
25,000,000 shares of preferred stock, with a par value of $.001 per share.
There are no preferred shares issued and outstanding at August 31, 2012.
The Company issued 4,000,000 shares of its common stock, to its
President, in July 2009 in exchange for services rendered, valued at $20,000.
The Company issued 3,000,000 shares of its common stock in July 2009 to acquire the Phetchabun oil and gas lease, valued at $15,000.
During November 2009 the Company issued 9,000,000 shares of its common stock at $.005 per share for a total of $45,000 in cash.
The offering was conducted at a price of $0.005 per share, of which 9,000,000 shares of common stock were sold and the offering was closed on November 30, 2009.
[i]Some information about the seedholders[/i]
The Larsens and the Kriekles are familiar names within the a circle of insider enrichment scams that ABBY is directly connected to.
Later in the report I will link to nodummy's research regarding these families and more that have reaped the benefits from this circle of crime.
[b]Current Business Plan[/b]
ABBY claims to be a startup exploration stage company in the business of gas exploration. They have no revenues, have achieved losses since inception, have been issued a going concern opinion by the auditors and rely upon the sale of securities to fund operations.
That being said they claim to have funds to complete phase 1 and a portion of phase 2 of their anticipated exploration program.
As of August 31, 2012, the Company had a net operating loss carry forward of $116,145 and zero cash. Go figure.
[b]Current Director / Officers:[/b]
Randall Croteau was appointed to the board of directors on May 10, 2011
Randall supposedly brings to the board of directors extensive experience in the oil and gas industry. Giving them what they claim to be hands on expertise in the oil and gas industry to assist in overseeing day to day operations and exploration work. Mr. Croteau's bio states he has more than forty years of experience in with Energy firms and National Companies.
August 16, 2012 Thomas Forzani was appointed to the Board of Directors.
August 17, 2012 Thomas Forzani was appointed as an officer of the corporation in the capacity of President, Secretary and Treasurer.
On that same day, Donald Thompson resigned his position as President, Secretary, and remains on the board of Abby Inc. as a Director.
[color=red][b]If it worked once...[/b][/color]
This isn't the first time that Forzani and Thompson have teamed up.
The duo spearheaded a successful pump and dump in late 2006 /2007 with High End Ventures, Inc (HEVE).
They seem to have a knack for soliciting assistance from scandalous attorneys . I will touch on the ABBY filing authors and also current counsel, Jeffrey G. Klein later in the report.
The ABBY S1 attorney was Jill Arlene Robbins. Robbins is the wife of banned penny stock attorney, Joseph Emas. Joseph provided the legal opinion for the 2.07M shares registered for resale with the HEVE S1.
Don Kerster authored filings for HEVE and the Kerster family have a rich history when it comes to authoring filings for dirty shells which I will touch on later.
[i]Forzani was HEVE President and Thompson the treasurer and director.[/i]
Interesting to see that the very same bio used for Thompson in 2006 hadn't changed at all when they decided to use it again for ABBY. Lazy. Penny stocks apparently keep you young as Thompson was 59 in 2006 and still in 2009 for ABBY. He also had the same time period for work history with Air Canada even though the years had passed. Page 16 of the SB-2.
Interesting that the HEVE play featured many of the Forzani family as seedholders.
HEVE's seedholder list also included Don and his wife I imagine, Marilyn Thompson.
If you recall earlier in the seedholder portion of the report, it lists many of the Thompson's as 'Marilyn's' children to divert attention away from this being a full blown family and insider enrichment scheme.
Now with ABBY it is time for the Thompson family to get paid - as there are many of Mr. Thompson's family as seedholders in ABBY.
[color=red][b]Jeffrey G. Klein - Current Counsel[/b][/color]
Jeffrey is the current counsel for ABBY. He is also current counsel for a number of dirty pink sheet shells, including the Allinder / Berger pump CCAJ. Tickers like WHEN, DENG, BISU,and Grey Sheet former pump stock, VVWT. Currently trading .0001, VVWT was not afraid to play the 'evil naked short card hard' and no surprise they are trading .0001 on the greys.
Jeffrey is also current counsel for HULL. HULL recently filed a change of control 8k after remaining dark since 2008.
The HULL shell was taken over by new president Jeffrey Canouse.
nodummy touches on HULL and the Canouses here.
Jeffrey does not seem to be able to keep himself out of the eye of the regulators. Here Jeffrey was indicted on 34 counts of violations to Title 18. Jeffrey served as an escrow agent for stock transfers for a boiler room scheme.
[b]Here is the indictment link:[/b]
[b]Here is a link to the release:[/b]
[i]12 Charged in Multi Million DollarInternational Boiler Room Scheme[/i]
[color=red][b]The Kersters in the background pulling strings...[/b][/color]
[i]ABBY filing authors:[/i]
Lawson M. Kerster
Neuer Kapital Corp
nodummy has fantastic research about Joseph Emas and Jill Arlene Robbins (ABBY S1 attorney) and their tie ins to the Kerster and Larsen families (and more) who have been involved in numerous p & d tickers. Here is the nodummy research I alluded to earlier.
His touch on Kennedy Kerster in his CLRV intro here:
[i]Kennedy Kerster can be linked to dozens of shells that used banned attorney Joseph Emas in the past. He can also be linked to convicted securities fraudster Sandy Winick.
Kennedy Kerster can be found authoring filings for the following shells that used Carrillo Huettel as legal counsel including GTCP, ANOS, CNTO, CLRV, DCGD, SNPY, MKIT, NSRS, WLOC.[/i]
[color=red][b]Additional Share Issuances:[/b][/color]
February 2011 the Company issued 3,500,000 shares of its common stock at $.01 per share for a total of $35,000 in cash.
More beneficiaries of the forward split to come.
[color=red][b]Forward Split and Authorized Increase:[/b][/color]
On September 25th, 2012 the Board of Directors by way of resolution approved a 5 to 1 forward split to increase the issued and outstanding shares in the company from 20,400,000 common shares issued and outstanding to 102,000,000 issued and outstanding. The bounty of the seedholders has been increased and their cost per share has fallen to fractions of a penny.
The Board of Directors unanimously approved an amendment of the Articles of Incorporation to increase the company’s authorized share capital to 500,000,000 common shares.
Don Thompson 24,500,000
Brian Wilkinson 15,000,000
Unnamed investor free trading:[color=mediumblue][b]17,500,000[/b][/color]
Original seedholder free trading shares: [color=mediumblue][b]45,000,000[/b][/color]
This shell is riddled with dirty players along the timeline. It is very obvious that Forzani and Thompson, with the help of Jeffrey G. Klein, are ready to saddle up once again. The bounty from their first play, HEVE has probably grown thin. The story is still weak as they are sitting on the worthless oil and gas leases. As the forward split has now hit, I would expect to see some press releases start to place a little shine on the story development. The guys have [color=mediumblue][b]62,500,000[/b][/color] shares of motivation to bring a paid promotion to ABBY and they aren't getting any younger. 😉 As a result, ABBY has been placed on our watch list for future paid promotions.