23 Oct Greenway Technology (GWYT) – important PR today
Back on September 3, 2012 we published an in depth research report on GWYT found here
We also put GWYT high up on our watch list for a future paid promotion.
GWYT took a major step today towards that future paid promotion. The company put out a PR announcing that their CEO, Kevin Holbert, resigned and that Bernard Fried has taken over as the new CEO and head of the Board of Directors.
According to the PR, Bernard Fried has experience working with international companies and was the former CEO of Flint Telecom Group Inc (FLTT). The OTC website still lists Bernard Fried as the FLTT CEO
The last Annual Report filed by FLTT on September 19, 2012 says that Bernard Fried resigned as the company president/CEO on September 15, 2012.
FLTT was pump&dumped, reverse split, and pump&dumped again back in 2010/2011. FLTT was (and still is) littered with toxic debt which means that Bernard Fried is probably a good choice for Jehu Hand to run the GWYT shell since Jehu Hand owns over $500,000 in debt in the GWYT shell and will probably be wanting to convert that debt and dump those shares during a paid promotion.
See this post to learn a little more about FLTT's debt issues and p&d past
FLTT lost its DTCC eligibility on December 22, 2011 probably due to all the illegal toxic debt conversions
Which included a toxic debt agreement with E-Lionheart/Edward Bronson who later showed up in SEC litigation for their illegal 504 debt conversions
Bernard Fried is currently involved with a start up company called Andalusian Resorts, LLC which intends to engage in the operation of an exclusive chain of resorts and spas. Their business concept envisions a chain of luxury boutique resorts catering to the adult alternative lifestyle, with an anticipated closing of our first property during the fourth calendar quarter of 2012
The plan is for the Greenway Technology shell to take over the operations of Andalusian Resorts, LLC which may mean a name/symbol change in the future for the GWYT shell.
Andalusian Resorts LLC is a Nevada business entity formed on July 20, 2012 listing Brian A. Deville as a managing member.
Some information available online for Andalusian Resorts LLC suggests that their resorts/spas will be geared towards the gay community. I found an ad online posted by Andalusian Resorts LLC looking for a corporate attorney offering a salary of $70,000 - $100,000/year. Perhaps this is how Bernard Fried and Jehu Hand hooked up.
Here is the Andalusian Resorts LLC website
Interesting that the IR company listed on the bottom of today's PR, APS Proud, forwards to the Andalusian Resorts LLC website
The PR today disclosed who owned the mysterious 150,000,000 shares issued in August of 2012 - Robert Semingway Trust.
Robert Semingway Trust is an entity controlled by Kevin Holbert. As part of the changing of the guard, Kevin Holbert sold his 150,000,000 shares to the new CEO, Bernard Fried.
There is no indication that Kevin Holbert gave up his 5,000,000 preferred shares which can convert into 50,000,000 common shares.
Benjamin Hoskins who has a dirty past with Jehu Hand as mentioned in our original GWYT report still owns 9,928,367 shares
Jehu Hand also still owns around $500,000 or more of convertible debt.
Keep a very close eye on the GWTY shell moving forward. A name/symbol change may be in the works, but I still believe some where down the road the GWYT shell will get promoted.