19 Mar Future Energy Corp (FEGY) – soon to be MarilynJean Interactive Inc – stock research report – now MJMI
Future Energy Corp (FEGY) which was taken public by Carrillo, Huettel Zouvas LLP has taken some interesting steps recently. Luis Carrillo, Wade Huettel, and Luke Zouvas are considered 3 of the kings of the pump&dump world when it comes to attorneys so any time one of their shells starts taking steps towards a possible future paid promotion those steps should be noted.
On February 15, 2013, Future Energy Corp signed a Letter of Intent with MarilynJean Media Inc., a private company organized under the laws of the Province of British Columbia. The agreement calls for Future Energy Corp to issue 181,432,000 shares to MarilynJean Media Inc. in exchange for all of the outstanding shares of MarilynJean Media Inc.
Before we look deeper at MarilynJean Media Inc let's go back and take a closer look at Future Energy Corp and see what sort of insiders are involved in FEGY and how many shares they own to dump into a potential future paid promotion.
The Set-up / Management Team
Future Energy Corp was registered as a Nevada business entity by George Paquet on April 7, 2010
George Paquet was appointed as the president, chief executive officer, chief financial officer, secretary, treasurer and one of the directors and received 5,000,000 shares.
Melany Paquet (daughter of George Paquet) was appointed as the vice-president and director and received 1,428,571 shares.
Mike Anderson was appointed as a director
Jefferson K. Villines was appointed as a director
George Paquet (62) of Quebec had been out of work since 2004. His daughter, Melany Paquet (37), also of Quebec, had been working an in-house child care center since 2003.
Mike Anderson (42) had spent several years doing geophysical surveys in both North and South America.
Jefferson K. Villines (35) was president of JKV Management Consulting, LLC which was involved in oil & gas consulting.
The Business Plan
Future Energy Corp originally had a plan to go public as an exploration stage company engaged in the acquisition, exploration, and development of prospective resource properties. In July of 2010, Future Energy Corp signed an assignment agreement and operating agreement with Tim Cooksey Oil, LLC acquiring a 1.57% working interest in two wells identified as Charles Prior #1A and #2A located in Franklin County, Illinois in consideration of a payment of $25,000
For another $25,000, Future Energy Corp signed an assignment agreement with CJT.JKV Oil Development, LLC (Jefferson K. Villines) for 3% working interest in the Sesser Lease also linked to Tim Cooksey Oil LLC
It turns out that Tim Cooksey Oil LLC and Jefferson K. Villines (JKV Management Consulting LLC) were closely linked and had been in a lot of legal trouble together with each other in the past including lawsuits and a Cease and Desist order from the Pennsylvania Securities Commission for selling unregistered securities. See the PASC press release here. The group was also accused of selling unregistered securities in other states including Texas.
An S-1 was filed to take Future Energy Corp public on October 28, 2010
The law firm helping with the S-1 filing was Carrillo, Huettel, Zouvas LLP
The accountant helping with the S-1 filing was Malone Bailey LLP
Both Carrillo, Huettel, Zouvas and Malone Bailey can be linked to dozens of pump&dump shells.
Future Energy Corp told the SEC that they hoped to raise $374,700 from the S-1 offering to use towards the development of the oil & gas leases.
Even before getting the S-1 approved, Future Energy Corp ran out of cash and started issuing Promissory Notes to its CEO, George Paquet totaling $40,000.
The S-1 filing was approved on March 12, 2012
On May 29, 2012, Future Energy Corp did a 14:1 forward split (stock dividend). This raised the outstanding share count from 6,428,571 to 77,142,852 shares.
Future Energy Corp also raised the authorized share count to 500,000,000 and added 200,000,000 preferred shares.
After the 14:1 forward split, Future Energy Corp sold 42,385,500 shares to a group of seed shareholders for $.01/share raising $423,855.
This made the share count look as follows:
Authorized - 500,000,000 shares
Outstanding - 119,528,352 shares
Float - 42,385,500 shares
George Paquet - 60,00,000 shares (restricted)
Melany Paquet - 17,142,852 shares (restricted)
Seed shareholders - 42,385,500 shares (free trading)
Several months before even signing the acquisition agreement with Future Energy Corp, MarilynJean Media LLC was already involved with Future Energy Corp.
On August 17, 2012, FEGY issued a note receivable for a total of $50,000 to MarilynJean Media LLC
On October 1, 2012, FEGY issued a second note receivable for a total of $50,000 to MarilynJean Media LLC
Why would Future Energy Corp (FEGY) which was a developmental oil & gas company be giving cash to MarilynJean Media?
Obviously the two entities had it planned out well in advance that after FEGY went public, MarilynJean Media would act as the future merging entity.
MarilynJean Media / Jason Leo Carvalho
The founder and CEO of MarilynJean Media LLC is Jason Leo Carvalho
MarilynJean Media Inc is a "flash sales site for families" or "online shopping club" based out of Vancouver. The entity was founded in August of 2011. See their website here.
Here is an article about Jason Carvalho from Business Vancouver.
Other main employees of MarilynJean Media are Kelita Jean Klein (CBO) and Filip Stoj (CFO/COO)
On February 15, 2013, Future Energy Corp (FEGY) entered into a letter of intent to acquire MarilynJean Media for 181,432,000 shares and $50,000.
As of March 15, 2013 the agreement had not closed, but I expect that it will.
When the agreement closes we'll see the old management team from Future Energy Corp resign. The oil & gas leases will be dropped and the new management team will consist of the MarilynJean Media executives.
Eventually we will see a name/symbol change for FEGY. With 42,385,500 free trading shares of stock eventually we could also see a paid promotion.