Centor Inc (CNTO) – stock research report

20 Mar Centor Inc (CNTO) – stock research report

 

 

Another Carrillo Huettel shell has made some interesting moves recently including a 6:1 forward split today.  I have had Centor Inc (CNTO) on watch for several months because it has some other connections to past AwesomePennyStock promotions besides just Carrillo Huettel LLP.

It is now time to do a research report on the ticker.

 

The Set-up

Centor Inc was incorporated in Nevada on February 16, 2011.

The incorporator was Amanda Cardinalli

Amanda Cardinalli is the president of the Nevada Agency & Transfer Company which does incorporations, but also acts as a stock & bond transfer agent.  At the Nevada Agency & Transfer Company, Mary Ramsey acts as the office manger for Amanda Cardinalli.

Starting in 2007, Amanda Walker Cardinalli was a long time director for America West Resources Inc (AWSR).   She was also the beneficial owner of 8,571,232 shares of AWSR stock through the Nevada Agency & Transfer Company.

America West Resources Inc (AWSR) was a one day money grab by AwesomePennyStocks on February 23, 2012.

Amanda Cardinalli has helped dozens of Issuers with incorporation filings since at least 1999.  See this link for a complete list of tickers.

 

Filing Error - Toron Inc

If you look at the articles of incorporation for Centor Inc filed with the SEC you'll notice there was a misprint.  The name was incorrectly typed out as Toron Inc.

How could something like this have happened?

Toron Inc is also a publicly traded entity under the symbol TRON.

Here is the TRON Nevada SOS filings.  Here is the TRON SEC filings.

TRON was taken public by Jill Arlene Robbins. 

The Incorporator for the TRON shell was Amanda Cardinalli - which explains the mistake.

TRON ended up doing a 33:1 forward split after going public.  It then ended up being used for an ugly spam pump&dump campaign starting in December of 2011.

 

The Original Management Team

The original management team for Centor Inc included Michael Gismondi (CEO, president, director) and Andrea Vincent Grande (secretary, treasurer, and director) both of Ontario.

Michael Gismondi had been employed for the last 8 years for Raymond Homes Inc. an independent contractor and builder of new homes in the Toronto Area.  Raymond Homes Inc was a company that Michael Gismondi owned.

Andrea Vincent Grande has been employed the last 7 years with Impact Manufacturing Solutions a business that specializes in private label packaging of computer components.

 

Pre-public Share Structure

Prior to filing to go public, 11,450,000 shares were issued.

Michael Gismondi got 5,000,000 shares for $5,000

Andrea Vincent Grande got 1,500,000 shares for $1,500

35 Seed Shareholders got 4,950,000 shares for $.01/share ($49,500)

 

Original Business Operations - Minquest

Business operations consisted of a property option agreement with MinQuest Inc (Richard R. Kern) for the purchase of 14 claims in Nevada (Weepah Hills Prospect). The agreement called for $13,360 to be paid upfront and for set Expenditures ($2,920,000 total) and payments ($705,000 total) to be made every year for the next 10 years. Centor Inc was required to incur $20,000 in Expenditures on the properties and pay $15,000 to MinQuest Inc by June 30, 2012 to keep the agreement in good standing.

Minquest (Richard R. Kern) has become a go to person for setting up doomed to fail business agreements involving mining properties for shells looking to go public for devious future enrichment schemes.

Other shells that used MinQuest (Richard R. Kern) include:

North Springs Resources Corp (NSRS) - Carrillo Huettel shell - APS promoted stock
Graphite Corp (GRPH) - Carrillo Huettel shell - promoted stock
Willow Creek Resources Inc (WLOC) - Carillo Huettel shell - promoted stock
Punchline Resources Ltd (PUNL) - promoted stock
Goldfields International Inc (GDFI)
Patriot Gold Corp (PGOL)
All American Gold Corp (AAGC)
Star Gold Corp (SRGZ)
Ranger Gold Corp (RNGC)
Tundra Gold Corp (TNUG)
Dakato Gold (DAKO)
Tuffnell Ltd (TUFF)

 

Going Public

The S-1 to take Centor Inc public was filed on August 17, 2011.

The attorney helping with the S-1 filing was paid promotion attorney #1 - Carrillo Huettel LLP

The accountant helping with the S-1 filing was Madsen & Associates CPA

The S-1 filing was approved on December 20, 2011.

 

Business Operations after going public

By early 2012, Centor Inc was already out of cash and was already borrowing money to keep up with business operations.

Obviously Centor Inc was incapable of achieving any real progress with their mining properties.  I doubt that developing the mining properties was ever really the plan.

On August 31, 2012, the mineral properties from Minquest were abandoned.

By December 31, 2012, advances from an unnamed 3rd party had reached $30,040.

 

Change of Control

As was probably always the goal from the start.  The Centor Inc (CNTO) shell would end up getting passed to new management.

On November 26, 2012 Centor, Inc. entered into an Asset Acquisition Agreement with Bullnet Gold Resources Limited to acquire 100% interest in the Nobewam Concession located in Ghana West Africa.  For the acquisition the Centor Inc would have to pay Bullnet Gold Resources $750,000 in cash at the closing of the Asset Acquisition Agreement. 

Signing for Bullnet Gold Resources was Kenneth Bulley.  Do a web search for Kenneth Bulley of Ghana and not much comes up except for a linkedIn page and the CNTO filings.

Since CNTO does not have $750,000, I am not sure how this agreement will ever close.

A few weeks after signing the agreement, on February 13, 2013, Michael Gismondi and Andrea Vincent Grande resigned from their positions.

Taking over were Bradley Wilson (President/ CEO), Frederick DaSilva (Secretary/Treasurer), and Joseph Maher (COO).

 

Bradley Wilson - GGCO, REPO, ICTY, DUVT

CNTO will not be Bradley Wilson's first publicly traded shell. 

He is currently involved in another ticker that also allegedly engages in mining concessions in Ghana called Ghana Gold Corp (GGCO) where he serves in the role of secretary and treasurer.  Ghana Gold Corp (GGCO) has done several reverse splits over its ugly history.  See the GGCO website here.

 

 

Fred DaSilva and Bradley Wilson are also both involved in National Asset Recovery Corp (REPO).

National Asset Recovery Corp (REPO) was a Russel R. Desjourdy and Paul C Desjourdy shell that went public then did a 20:1 forward split followed by some ugly pump&dump action.  Bradley Wilson came on the scene in December of 2010.  

In this article we find out that Bradley Wilson is a very close business associate with convicted fraudster, Jeffrey Ray Senger.  Senger plead guilty and was sentenced to a 42 month prison sentence with a 36 month supervised release and $236K in restitution after being arrested on a 23 page Grand Jury indictment in United States District Court for the Southern District of Florida in 2002 where he faced a total of 28 counts in two separate wire, mail and securities fraud conspiracies which were discovered in an undercover FBI sting “Operation Bermuda Short.”

In addition to the sentences, the 2005 Judgments also permanently barred Senger and Nirenberg from participating in any offering of penny stocks. In addition to injunctive relief the Judgments provided for disgorgement and the imposition of civil penalties.

On November 27^th, 2007, disgorgement penalties were dismissed against Mr. Senger, but there are no reportings of any allowance for Mr. Senger to recommence in the sale or offering of penny stocks or securities to be found on the litigation releases posted by the SEC.

Bradley Wilson also currently serves as the president and CEO of EyeCity.com Inc (ICTY) which has been diluted down to worthless.  ICTY looks like it was a hijacked shell that used old debt Notes to enrich insiders at the expense of retail investors.

The attorney for dilution pig, ICTY is Naccarato & Associates.

Oh but it doesn't end there.

Bradley Wilson has been using penny stock shells for scams going back over 10 years.  Here is a 2002 Citron article about how Bradley Wilson used Duravest Inc (DUVT) to scam investors to help insiders get rich.

In summary, Bradley Wilson has been a part of dozens of publicly trades shells and none of them have turned out good for investors.  His role seems to be very shady and very simple, to help the ticker be used for insider enrichment.  His history speaks for itself.

 

Forward Split

Today, March 20, 2013, CNTO conducted a 6:1 forward split.

We aren't told yet who now owns the 6,500,000 shares originally issued to Michael Gismondi and Andrea Vincent Grande, but those will now become 39,000,000 shares and should be restricted.

The seed shareholders shares now become 29,700,000 free trading shares of stock.

 

What to expect next

I expect that since CNTO has no cash that we could see some suspicious debt Notes come into play to help with the change in business operations.

We could also eventually see a name change and symbol change, but so far there has been no hint that either is coming.

Despite the early APS set-up, at this point unless 150,000,000 or more shares are issued to some mysterious foreign entity, there is little chance that CNTO will be a future AwesomePennyStocks pick.  It is more likely to be a newsletter/hard mailer type promotion.   

The next steps will help determine what type of promotion it is headed for.