16 Mar Oconn Industries Corp (OCOO) will now be Diamante Minerals, Inc (DIMN)
Oconn Industries, now Diamante Minerals, Inc (DIMN), came up on a climber scan and as I started to turn the pages on their filings, I realized we had another ticker positioning itself to profit based on a mining story. The Oconn shell was brought to market with the help of penny stock veteran Karen Batcher, from the Synergen Law group. Oconn has now taken significant steps forward toward market ready status. Here we have penny stock veterans at the helm and a diamond mining story to work worth.
The set up
Karen Batcher provided the legal opinion for the Oconn shell's S1 share registration filing that hit the wires November 8, 2012. Karen and her Synergen Law group have been involved with many promotion stock tickers, including the Billionaire Stocks pick, ENIP, AwesomePennyStocks, PVEN, The Meyers Newsletter Hard Mailer, STTX, current ticker in play in the marijuana space, MDRM, and many more.
PLS CPA provided the auditor's consent for the S1. PLS also provided work for Brighton Market's promotion IDNG, one day pop and abandon for Victory Mark's SLIO, Awesome Penny Stocks PCWT, Stock Castle's USGT, Thomas Puzzo's VCHS, current pre promo ticker GROG, and many more.
As you can see, Batcher and PLS are no rookies to the promotion game.
Oconn Industires Corp was incorporated on October 26, 2010 as a for profit company in the state of Nevada. The business was located at Daws House, 33-35 Daws Lane, London, England NW7 4SD. Their telephone number was 0-808-189-1222 . They claimed the to intent provide web-based match making and relationship building services.
At the time of filing the registration statement the company had begun the development of a corporate website at www.charmslove.com, which is currently parked as a blank white page.
The stated budget to complete the plan of operations and get Oconn off the ground was $215,000.
As of July 31, 2012, cash on hand was $38,127.
Prior to the filing of the S1, Batcher and cohorts rustled up the sale of 5,200,000 shares in a Regulation S offshore transaction to the shell's 26 seedholders. 5,200,000 shares were sold at a price of $0.005 per share for total cash proceeds of $26,000.
The company sold a total of 11,700,000 shares of common stock for cash proceeds of $39,000. Far less than the $215,000 needed to fund business operations. But, that is of no consequence as that business plan was never to be executed upon.
You can check the seedholder names here. These holders are just hand picked nominees that will be used to funnel money to the actual money people behind this play. The people likely are not even real. The names are of Irish descent, very similar to the hand picked Irish nominees for the AwesomePennyStocks ticker, GOFF. This coincidence is curious given info that you will read later on in this report.
The two assigned babysitters for the Oconn shell were sisters, Eithne and Grainne O' Connor. In typical penny stock fashion neither one has any experience in the match making or relationship building field. In the S1 they say Eithne is a man, and then in a later 8k, they say she is a woman. It is typically a woman's name, so we'll roll with that.
From 2004 up until the date of the S1 filing, Eithne was an accountant for John Supple Ltd., a construction firm in Ireland. Not surprisingly at all, in 2012 John Supple Ltd. was ordered by the High Court of Ireland to the wind up business operations, after finding that the company was insolvent and unable to pay its debts. Check that here.
Grainne did some work as a radiographer at Mercy and also Waterford hospitals as a radiographer.
Change of control - Marc Zegal and Robert T. Faber have done this before
Things remained status quo until this change of control 8k filing hit on February 6, 2014. At that time Eithne and Grainne agreed to sell their shares to Marc Zegal of Prolific Group, LLC for a total of $6500.
Prolific has provided financing for a few dilution bomb subbies WGAS and UNGS, and also two more successfully run plays CVAT and PROP. PROP is currently on a beautiful climbing run. Check that chart:
As Eithne and Grainne stepped down from control of the Oconn shell, Marc Zegal brought in his cohort Robert T. Faber, from the Stock Castle promotion, MSTG, to play lead fiddle with the OCOO shell going forward. Robert was president and director at MSTG as you can see here. Robert played a role in the trip zero trash ticker ASFX and Amex miner LODE as well.
As stated in the 8k, Eithne named Robert to a vacant spot on the BOD of Oconn. Robert then named himself as President, Secretary and Treasurer.
Marc is also the owner of the Israeli financing group, Zegal and Ross Capital, LLC. They have already done deals with 2 different Stock Castle promotions, MSTG and IDOI, as well as the mj ticker LATF, BCLI, PSTI and more.
The proposed deal with Mineracao Batovi
In an 8k filed on March 3, 2014, the Oconn group announced a finalized a letter agreement to acquire up to a 75% interest in the Batovi Diamond Project and form a joint venture with the owner of the claims in the property, Mineracao Batovi. The President of Mineracao is Chuck Fipke. Fipke acquired that property in 2002. More on Chuck in the following section. The mining project is located 220 kilometers north of Paranatinga in Mato Grosso, Brazil.
Also signing for Mineracao is Jose Aldo Duarte Ferraz. Jose comes up as participating in the suspended TSX stock DGM.V. Check the Diagem profile here from 2008, with Ferraz on board as metallurgist, mining engineer and consultant. Ferraz's buddy Chuck Fipke was rumored around in the DGM.V pump as evidenced by message board pumping here. Interesting name of the poster there.
They are just throwing around big numbers to make it sound impressive. It will purely be PR fodder for the upcoming stock promotion. And either way 49% or 75% or 100% of zero is still zero.
Likely the 'The First Right' portion of the deal and that is as far as it goes. Some extra money in Chuck Fipke's account and pump fodder for the Oconn shell.
As soon as 'The Second Right' comes into play, you can see there will be no way for them to come up with that cash. It is possible that Prolific puts up the money for the first right payments in exchange for debt notes or that they bring in additional dirty money to the play in the form of convertible debt.
To see the deal in it's entirety check the link here.
Charles "Chuck" Fipke
Chuck Fipke is widely credited for finding vast diamond fields in Canada's north and starting the Diamond Rush in Canada.
Chuck's story reads a bit like a real life Indiana Jones as memorialized in the book Fire into Ice: Chuck Fipke and the Great Diamond Hunt. Chuck made millions from his diamond adventures. He is also a member of the Canadian Mining Hall of Fame. He is an avid horse owner and actually had 2 horses run in the Kentucky Derby in 2013.
Check the video from the mining hall of fame:
Though Chuck made millions with his early diamond ventures, he also lost millions of dollars and his stock in the Ekati Diamond mine in a pricy divorce. The divorce was one of the biggest settlements in Canadian history, amounting to $200 million dollars. Fipke was married to his wife, Marlene Fipke at the time of the mine discovery. After several years together, the marriage failed due to the amount of time he spent in the field. After the divorce settlement, Marlene Fipke became a majority shareholder of the Ekati Diamond mine with a 29 percent stake in the company.
Which gives Chuck reason to search out some easy money.
Among Chuck's publicly traded ticker experience is also suspended TSX stock Iciena Ventures (TSX:IIE). Chuck and the gang pumped up the stock using the Batovi Project claims. Joining Chuck at Iciena as CFO and director, was no other than AwesomePennyStocks participant, Harry Lappa. Harry was involved with APS's NSRS, Victory Mark's RARS, Geoffrey Eiten's EDVP and more.
The very same claims that Chuck Fipke and Harry Lappa used to dupe investors while at Iciena are being recycled for the Oconn / Diamante ticker.
Check the video that Iciena made for those claims:
Name change, authorized increase and forward split
With the filing of the PRE14C on March 12, 2014, Oconn announced the intent to change their name to Diamante Minerals, Inc., the authorized increase to 300,000,000 and the 4 for 1 forward split.
Share structure following the split
Free trading: 20,800,000 (.00125 per share)
What comes next?
After the upcoming forward split, the share price will likely reset to the $.80 to $1.00 area. Coming up in the near future there will be a ticker change. We will continue to watch for additional financing hitting the wires. We will then likely begin to see press releases developing the story for the future promotion.
The Oconn shell is littered with dirty penny stock players from top to bottom. They have Chuck Fipke involved to help give some shine to the diamonds. Given the direct connect to Stock Castle's MSGT, IDOI and USGT through financiers, company officers and CPA's, I would say there is a good chance this becomes a Stock Castle pick in the future. They undoubtedly will want to pump up the diamond claims and the letter agreement, but they have to be careful as the SEC is watching the wires for false claims fairly closely these days. The 20.8M free trading shares are in the pocket for a landing page / hard mailer type campaign as well and may be picked up by another promotion source. Depending on future financing, also possible is simple low level awareness with a string of PR's to help move shares in the market. We will continue to monitor the ticker and keep PSS members ahead of the curve.