09 Jun BDPS Research / GBGM possible next play?
Some rumors have it that Donna and David Levy ran BestDamnPennyStocks (BDPS) before being Indicted on charges for stock manipulation.
Here is a little bit more information about the Levy Indictment.
I don't think that the Levy's owned BestDamnPennyStocks (BDPS)
Eric Cusimano allegedly owns that stock promotion company, but Donna and David Levy did have lots of contact with Eric Cusimano and arranged to get Eric Cusimano involved in many of the deals they made with dirty penny stocks. BANI for example was one of those deals.
Until about April of 2010 the BestDamnPennyStock newsletters used to include the following name and address at the end of the newsletter "Eric Cusimano, 315 Vecino Court, Spring Valley, CA 91977".
Jamie Boye is said to be involved in the BestDamnPennyStock companies as a web designer and associate.
What exactly are the BestDamnPennyStocks group of companies (and affiliates)? Here is the most complete list that I was able to piece together so far:
wallstreetpremier.com (no longer active)
MonsterPennyStocks.com (no longer active)
Various "brokers" linked to those sites include:
David LaForte CRD #2068915
David Murray CRD #18710050
David LaForte can also be linked to various other stock promotion sites and stock promoters like WhisperfromWallStreet.com (Mark McKelvie/Christopher Wheeler) and 24-7StockAlert.net (Coleman Flaherty)
Way back in 2006 Eric Cusimano had a stock promotion site called TryStockOptions.com.
"TryStockOptions.com is an independent membership service, managed by Eric Cusimano with a minority ownership position by SpeculatingStocks.com, Inc., a corporation chartered in Pennsylvania."
speculatingstocks.com has probably changed ownership since 2006, but they remain an active stock promotion site/company currently run by Russell and Scott Urban.
David & Donna Levy and Eric Cusimano were executive producers of some independent film together called "Should've Been Romeo",
Rumor is that Eric Cusimano is on the run from the FEDS, but I don't know how true that is since his company is still actively promoting stocks and some of the dirtiest stocks at that.
Eric Van Nguyen also used to meet regularly with the Levys at a Fort Lauderdale hotel where they discussed stock manipulation schemes together. The Levy's have obviously gone down since then and Eric and risen to new heights, but his days are numbered.
Donna and David Levy had lots and lots of connections in the penny stock pump&dump world.
BDPS sent out a teaser that they would have a new pick out on Monday. The pick is said to be a low floater trading under $.35/share.
Early speculation is that the pick will be Global Gaming Network Inc (GBGM). On Friday, GBGM rose $.12/share (63%) from $.20/share to $.32/share on speculation alone.
The president/CEO of GBGM is Stephen J. Kern.
Stephen Kern is the founder of SJK Consulting where he "specializes in bringing companies "public" via either a S-1 Registration IPO, purchase/reverse merger into a public "shell" listed on either the OTC Pink or OTC Bulletin Board Exchange, or a listing on the Frankfurt Exchange".
Kern also is tied to RTV Media Corp which signed an agreement with Lux Digital Pictures (LUXD) to help LUXD go public back in 2008 and Vega 7 Entertainment which also signed an agreement with LUXD to help that shell go public. Through Wilshire Capital Ltd, Kern was one of the larger original shareholders in the LUXD shell (the other being Nikolai Rudmanov managing director of Desdemona Ventures, Ltd.)
GBGM has a bad history of dilution and reverse splits, but recently has drawn new investor attention. Stephen Kern became the president of Global Gaming Network, Inc (GBGM) in January of 2010, following the purchase of SportsAlert.com Partners.
Under Kern's reign as president, GBGM did a 1:100 reverse split in October of 2011 taking the outstanding share count down from 44,120,592,572 to 441,206,926 and leaving the shell with a low float. SportsAlert.com claims to have active business operations, but GBGM has yet to realize any notable revenues and last quarter, GBGM reported no revenues at all.
GBGM also carries several classes of preferred stock included 10,439,992 outstanding Series B Preferred shares which convert into 250,000,000 common shares each most of which are owned by Wilshire Capital Ltd. (approximately 10,000,000). Stephen Kern is the Managing Director of Wilshire Capital Ltd and through his family trust (David Kern Family | Limited Partnership), Kern owns another 800,000 GBGM series B preferred shares. Wilshire and Kern also have a monopoly on most of the other GBGM preferred shares.
With the purchase of SportsAlert.com, GBGM agreed to take on over $250,000 in liabilities owed to the insiders of that company. More disturbing though, and probably the biggest reason that GBGM may become the focus of a paid promotion is an agreement that they signed with Wilshire Capital Ltd in December of 2011 in which Wilshire Capital can purchase up to $200,000 in GBGM stock in $10,000 installments for 75% of the lowest average bid price over the previous 10 trading days. Those terms basically assure Wilshire Capital of getting shares at better than half off of the market price.
If Wilshire Capital is picking up discounted shares they will be looking to sell those shares for a big profit.
Also closely tied to Stephen Kern through Wilshire, RTV, and Vega Star is Joseph Coleman (Vision Industries Corp - VIIC). This link shows an interesting connection between this group of companies and Aventura Holdings, Inc (nka QFORE). Coleman helped to set up Lux Digital Pictures GmbH Partners for the LUXD shell. There are many similarities between LUXD and GBGM.
As far as GBGM becoming the BDPS play on Monday. Based on all of the information I have been able to gather, I'd say the chances are good. But people will still need to be careful. GBGM is set up for lots of future dilution so that low float might not stay really low for very long, that and these pre-promo plays are sort of becoming a lot like the whole rumored news scenario. "Buy on the rumor and sell on the news." If GBGM doesn't become the pick on Monday things could get ugly fast. Even if GBGM is the BDPS pick, BDPS picks have a reputation for only very short term gains followed by massive dilution and price drops. Take two of their bigger 2012 plays for example - POWT and BFLX. Both saw nice short term spikes followed by huge sell offs. Another recent pick of theirs, PBGC, was a total disaster. BDPS promotions are usually not ones you want to hold very long so if you choose to risk your money with BDPS, timing is key.