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Nano Labs Corp – Research Report

10 Aug Nano Labs Corp – Research Report

 

Some interesting block trades today sparked this research report.  

Nano Labs Corp (CTLE) started out as Colorado Ceramic Tile Inc.  Colorado Ceramic Tile Inc is a Colorado entity that was first incorporated several years ago in 1995.  Setting up the company in 1995 were Sal & Sandra Venezia, Ben Casale, and Mark Rodenbeck.  The entity stayed pretty active for the first few years then it went through a stretch from 2004 - 2010 when it did not file any annual reports with the Colorado SOS.  Suddenly on August 3, 2010, with the help of attorney William T Hart, Sandra Venezia showed up after missing for 6 years to do a reinstatement filing.  

On December 22, 2010, the authorized share count was raised from 50,000 to 100,000,000 to prepare the shell to attempt to go public.  Attorney, William Hart once again did the filing.  

Between June 30, 2010 and December 30, 2010, 4,125,000 shares were sold for $.02/share to some private investors many of whom were related to Venezia and Rodenbeck.  The share sales raised $82,500.  The following is a list of those seed shareholders:

 

  Chris M. Grey                   275,000        
  Anna Villalvazo                 200,000         
  Michelle L. Grey                200,000         
  Philip F. Grey                  350,000         
  Daniela S. Grey                 375,000        
  Jon T. Burgin                   375,000         
  Scott Miller                    325,000         
  Bruce H. Penrod                 250,000
  Anthony S. Venezia               25,000         
  Michael Barela                   50,000         
  Ryan Rodenbeck                   50,000          
  Kevin R. Caughman                25,000          
  Marian R. Silcox                 25,000          
  Vladimir A. Karatsoupa           25,000          
  Ivan Muzgehenko                  50,000         
  C. James Padgett                 75,000          
  Theodore W. Struhs               50,000          
  Donald L. Cox                   100,000         
  Bryan Y, Rodenbeck               50,000          
  Randall J. Kendrick              25,000          
  Timothy C. Evans                 50,000         
  Philip G. Barclay                25,000          
  Patricia L. Malunat              75,000          
  Paul E. Mendell                  50,000          
  Delt 100 Alumni Counsel, LLC (David Jung)    250,000         
  Salvatore M. Venezia             25,000          
  Oleg V. Naumenko                 25,000          
  Cindy McCoy                     50,000          
  Steven Gellatly                  50,000          
  Koby Westerholm                  50,000         
  Sue Ann Guth                     25,000          
  Chystal Durnan                  375,000         
  Morgan Pylant                   150,000

 

On January 11, 2011, the S-1 filing was done.  The legal counsel doing the legal opinion letter was William Hart.  The same William Hart that had already been involved in reinstating the shell several months before.  William T. Hart is an old hat when it comes to publicly traded entities.  He has been involved with dozens of public shells going back to 1996.  

According to the financial statement provided in the S-1 filing, Colorado Ceramic Tile Inc pulled in over $1,000,000 in sales each of that last 2 years prior to attempting to go public.  Profits from sales were $338,988 and $293,328 respectively, but despite the respectable sales numbers, Colorado Ceramic Tile Inc lost money each of those years because of operational and administrative expenses.  That isn't surprising since Sandra Venezia was due to be paid a salary of $112,800 for 2011 and  Mark Rodenbeck was due to be paid $56,400 in 2011.  Here is the Colorado Ceramic Tile Inc website.

At this point it could have easily been believed that Colorado Ceramic Tile Inc was going public to raise funds to improve the business, but it wouldn't take long after the S-1 filing was made effective before CTLE turned into an obvious insider enrichment scheme.

The S-1 filing was made effective on March 29, 2011.  At first Venezia and Rodenbeck were going to change the name of the shell to Carbon Based Partners Inc and do a 36:1 forward split.  They even got as far as changing the name of the Colorado entity in December of 2011, but for some reason they reversed the name change and forward split in February of 2012 (maybe they had trouble getting FINRA to approve the split?).

Almost exactly one year after the S-1 filing was made effective, Sandra Venezia and Mark Rodenbeck found a new way to enrich the seed shareholders.  On March 28, 2012, they sold all of their shares to two guys out of Mexico named  Bernardo Camacho Chavarria and Jose Manuel Flores Hernandez for an undisclosed amount of cash.  I do not think it was any coincidence that they waited exactly one year to sell control of the shell.  I think finding a way to get millions of free trading shares in the hands of the seed shareholders for next to nothing was the plan beginning well before Colorado Ceramic Tile Inc filed to go public. 

Bernardo Chavarria (600,000 shares) became the new CEO.  Jose Hernandez (3,400,000 shares) became the new Chairman of the Board and secretary.  The name of the shell was changed to Nano Labs Corp and the company filed to do a 25:1 forward split.  The address for the shell was moved to Mexico.  The 10Q filed following the change of control showed that Nano Labs Corp had no assets, no revenues, and no real business operations.

This time the forward split was approved.  The 25:1 forward split cleared on May 12, 2012.  The seed shareholders now had 103,125,000 free trading shares, Chavarria now had 15,000,000 restricted shares, and Hernandez now had 85,000,000 restricted shares for a total outstanding share count of 203,125,000 shares.

Apparently it wasn't enough that there were now 103,125,000 free trading shares currently valued at over $66,000,000 ready to make several insiders very rich.  On August 1, 2012, another 100,000,000 shares were given to the shareholders of a company called Respect Innovations Inc for some of their assets, technology, and intellectual property.

Respect Innovations Inc must be one amazing company with some amazing assets for it to take 100,000,000 shares currently valued at $64,135,000 to acquire those assets, right?.... think again.

I found Respect Innovations Inc and spent some time trying to uncover their history.  Respect Innovations Inc is based in East Hartford, Connecticut.   The company was first incorporated in Nevada on February 14, 2000 by Andrew Spencer and others.   The company had a big write up in 2001 about some of their products.  Not much is found about Respect Innovations Inc after that.  

According to this resource, in 2004, Respect Innovations Inc filed for Chapter 7 Bankruptcy.  Chapter 7 is when assets are liquidated.   What happened with the Nevada business entity after that seems to support that Respect Innovations Inc went out of business.  After January of 2007 they stopped filing with the Nevada SOS and on April 1, 2008 their resident agent resigned.

Andrew Spencer incorporated a new Nevada business entity called Respect America Inc on July 31, 2008 under the business description of nanotechnology, but he abandoned that entity 1 year later.

Right before CTLE acquired the Respect Innovations Inc assets a few interesting things popped up on the internet.  On January 4, 2012, a brand new Nevada business entity was created named Respect Innovations Inc mocking the old revoked Respect Innovations Inc.  No officers were ever assigned to the new Nevada entity and it subsequently went into default.  It seems to have been created for the mere purpose of mocking the old entity in order to create the illusion of a real business to facilitate the transfer of 100,000,000 CTLE shares to some unnamed insiders to get rich.  This page shows somebody named H. Douglas Berardo as the president of a start up company founded in 2011 called Respect Innovations Inc with a business description of nanotechnology.   

H. Douglas Berardo seems to be our guy involved with the CTLE shell, but since CTLE has failed to file any actual signed agreements and has failed to disclose any information at all about Respect Innovations Inc and its officers we have no idea for sure.  The whole lack of disclosure by CTLE is very very shady, but everything about CTLE has been pretty shady from day one.

On August 1, 2012, the Nano Labs Corp Colorado Business entity went into default for failing to file their 2012 annual report.

So currently we have a delinquent shell with 303,125,000 outstanding shares, a market cap of  over $195,000,000, no proven assets, a disturbing lack of disclosure, a shady corporate history, a foreign presence, and at least 103,125,000 free trading shares owned by insiders.  Those things add up to a pretty scary investment but also the kind of insider enrichment scheme that could attract an expensive paid promo.   For this reason I am adding Nano Labs Corp to our watch list for a future paid promotion.

It will be interesting to see what kind of disclosure CTLE offers in future filings.

I think Nano Labs Corp will probably receive a symbol change before any big paid promotion starts.

 

 

 

 

 

 

 

 

 


 

 

 

 

4 Comments
  • alive
    ALiVE
    Posted at 00:45h, 08 October Reply

    *NANO LABS, INC. FILES (8-K) Disclosing
    Termination of a Material Definitive Agreement

    http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=8502255

    On October 2, 2012 the Company terminated its agreement with Respect Innovations, Inc. relating to the acquisition of Respect’s nanotechnology. The 100,000,000 shares of the Company’s common stock originally issued to Respect in exchange for the assignment of the nanotechnology were returned to the Company.

    In connection with the termination of its agreement with Respect, the Company
    sold all of its shares in its wholly owned subsidiary, Respect American Glass,
    Inc., to one of Respect’s officers for a nominal price.The Company intends to acquire new nanotechnology in exchange for shares
    of its common stock. The new technology is a coating that can be applied to
    almost any surface, has low thermal conductivity and protects surfaces from
    water leaks, corrosion and rust.

    Nanotechnology involves mixing microscopic particles into paints,
    coatings and films that can be applied to most surfaces to provide temperature
    resistance and increased structural integrity.

  • kroyrunner89
    Posted at 14:03h, 11 November Reply

    CTLE got promoted today by Rocket Alerts. Their last promotion was HYII on 5/22, it went up for a day and then tanked

  • alive
    ALiVE
    Posted at 15:03h, 11 November Reply

    CTLE news 11.09.12 / breaking out on higher than ave vol

    Report to Shareholders: Nano Labs Corp. (CTLE) Announces Progress as Company Builds North American Alliance

    TORONTO — (Marketwire) — 11/09/12 — A Report to Shareholders released today by Nano Labs Corp. (OTCQB: CTLE) — a nanotechnology development company — brought encouraging news from the company’s recently appointed Chief Research and Innovation Officer. Dr. Victor Castano told shareholders, “on behalf of the Nano Labs Board of Directors, I am pleased to report that our new road map and business plan for success through 2013 aim to make Nano Labs the company to watch as a rising American star in emerging technologies.”

    Dr. Castano said, “We have positioned our young company to fire on all cylinders. Our people, products and facilities have come together in a North American alliance that we believe uniquely positions us for aggressive growth and success across multiple industry sectors. Through our R&D facilities in Mexico , our headquarters in Detroit , and our marketing resources in Toronto , we are already working towards patent finalization, testing, certification and commercialization of five remarkable nanotech applications relating to energy, medicine, and industrial and consumer goods, respectively. I look forward to discussing these in more detail in the coming days and weeks as we file our new business plan, launch our new website, and finalize details involving patents and intellectual property rights.”

    Dr. Castano remarked about two intriguing nanotech solutions. First, the company is working to finalize the patent application for a remarkable surface coating boasting fire-resistant characteristics at up to 1,500 degrees Celsius, which may be used in numerous types of industrial and consumer goods. The other solution is a process to turn organic solutions into applications for various industrial and commercial uses. In describing this process in the Shareholders’ Report, Dr. Castano added a touch of humor. “We have also developed a nanotech process whereby we turn organic solutions — such as acetone and ethanol (including tequila) — into diamond film for industrial and possibly consumer use. But of course, we have been, and will continue to be, very sober in the approach we take when turning tequila into diamonds.”

    Altogether, the initiatives involve just a few of the innovations Dr. Castano brings with him as an internationally celebrated scientist working for some 30 years in the field of nanotechnology. Dr. Castano reported that as he works with a team of scientists, technicians and executive-level business and marketing professionals, Nano Labs is exploring other fronts to take full advantage of its diversified base of more than 500 peer-reviewed papers, products, and prototypes relating to energy & fuel, health & medicine, food & agriculture, and building & industrial materials.

    “Nanotechnology no longer promises to change the world, the change is right now in progress. And I am delighted that we as shareholders of Nano Labs stock are all aboard a ship headed for what we believe could be hugely profitable and beneficial horizons. We are working to create products and materials that come with the satisfying investment benefit of making our industries stronger, our economies healthier, and our environment safer. Indeed, it’s amazing what science and industry are now capable of achieving through the modification and manipulation of matter at molecular and atomic scales,” Dr. Castano said.

    “In addition, we believe that nanotechnology presents a potentially attractive opportunity for Nano Labs’ investors. Let’s just keep in mind that right now, we believe the world is looking at a sea of change in innovative nanotechnology, with research pointing to the prospect of $2.6 trillion in global revenues for the sector — representing 15 per cent of all projected global manufacturing — by 2014. These revenues contrast with $13 billion in 2004. That, in our estimation, is phenomenal growth,” he said.

    “We here at Nano Labs believe that we are at the vanguard. In my estimation, we are riding the crest of a wave of such a significant impact that it effectively amounts to a new American industrial revolution. We hope that you join us on our journey,” Dr. Castano told shareholders.

    “I look forward to keeping the Company’s shareholders up to date about our aggressive business plan to create strategic and commercial partnerships and joint ventures. In our view, prospects for long-term national and international relationships with significant global brand licensing and distribution partners are looking very good indeed. During my tenure as Chief Research and Innovation Officer, I will be lecturing at various of the leading R&D and education institutions in the world to discuss the promise of nanotechnology. I honestly believe that it is all forward from here,” Dr. Castano said.

    About Nano Labs Corp.

    Nano Labs Corp. (CTLE) (the “Company,” “we” or “us”), a Colorado corporation, was founded in October 2012 , but it is able to rely upon resources that include over 30 years of research and development in nanotechnology and more than 500 peer-reviewed and published research papers and patents. The Company’s research and development team of scientists, designers, and engineers are focused on creating a portfolio of products of next-generation products in the consumer products, energy, materials science, pharmaceutical and healthcare industries. Through the use, and integration of proprietary nano compounds, our goal is to evolve everyday, existing products, into new, revolutionary products, in order to make the world a better place. Nano Labs shares are traded on the OTC Bulletin Board in the United States under the ticker CTLE. For more information, please visit http://www.NanoLabs.us.

    Forward looking statements

    This press release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those laws. These forward-looking statements are based upon a number of assumptions and estimates that are subject to significant uncertainties that involve known and unknown risks, many of which are beyond our control and are not guarantees of future performance. Actual outcomes and results could materially differ from what is expressed, implied, or forecasted in any such forward-looking statements. Risk factors listed from time to time in its news releases and its filings with the OTC Bulletin Board may materially and adversely affect the Company’s actual performance and future results.

    Meta tags: Nano Labs , CTLE, nanotechnology, report, emerging technology, shareholders, nanotech solutions, Victor castano, nano, labs, penny stock

    Add to Digg Bookmark with del.icio.us Add to Newsvine

    Contact: Nano Labs Corp. Bernardo Chavarria CEO 1 (888) 806-2315

    Source: Nano Labs Corporation

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