19 Aug PacWest Equities Inc (PWEI) major connections to VLNX
PacWest Equities Inc (PWEI) was brought to my attention today by one of our subscribers and fellow author, Alive. Through his research he linked PWEI to the recent APS pump&dump, VLNX. From there we collaborated on the following research report.
PacWest Equities Inc was incorporated in the State of Florida on October 23, 2003 under the name of Dash Industries, Inc.
On November 6, 2003,through the Florida Secretary of State, by Certificate of Amendment, the name was changed to Avenue Holdings, Inc.
On December 31, 2003, through the Florida Secretary of State, by Certificate of Amendment, the name was changed to Global Prospecting Ventures, Inc.
The Issuer Filed Articles of Conversion thereby re-domiciling from the state of Florida to the State of Nevada on June, 4 2004, under the name of Global Prospecting Ventures, Inc.
On January 8, 2007, through the Nevada Secretary of State accepted, by Certificate of Amendment, the name was changed to Competitive GamesInternational, Inc. coinciding with the name change the ticker executed a 1:500 reverse split
On June 18, 2009 the Competitive GamesInternational, Inc conducted another 1:1000 reverse split.
On April, 4, 2010, through the Nevada Secretary of State, by Certificate of Amendment, the name was changed to PacWest Equities, Inc. coinciding with the name change, the ticker executed another 1:1000 reverse split.
When the shell became Competitive GamesInternational, Inc (CGMI) in March of 2007, the CEO of the company became Julio Collado, the company was moved to Panama, and an attorney known as Luis Carrillo (then working for SteadyLaw Group LLP) was authoring the filings and providing the legal letters for the shell (see this now inactive disclose statement for more details).
Luis Carrillo would go on to be a partner in Carrillo Heuttel LLP which is probably the attorney most strongly linked to not only past AwesomePennyStock (APS) pump&dumps, but Kirks/Skymark pump&dumps as well.
In 2008 another attorney with a dirty past and her own interesting connections to some past pump&dumps and ties to AwesomePennyStocks was added to the mix with the PWEI shell. The person I am talking about is SEC banned attorney, Diane Dalmy.
Diane Dalmy did the next several attorney opinion letters for the PWEI shell until her ban on September 25, 2009. After Diane Dalmy's ban, Owen Naccarato took over authoring the legal letters. Owen Naccarato can be linked to such tickers as Tapslide Inc (TSLI) which was a shell run by APS insider, Aaron Lamkin, eMamba International Corp (EMBA) which has links to Diane Dalmy, Harry Lappa, and several GWBU insiders, and DPollution International Inc (RMGX) which later became Great Wall Builders (GWBU) - a major APS pump&dump.
Fast Forward to 2012
After the name of the shell was changed to PacWest Equities Inc in 2010, the shell went through some small insignificant (for the sake of this report) changes in officers. We saw Jamie McInelly, Jim Stiglich, and David Rees all spend some time as officers of the shell. The shell then went pretty silent for the next two years not doing any filings or providing any press releases.
Despite the silence and the insignificant little changes, I think that the shell remained in control of the same anonymous unnamed insiders in the background the entire time.
In 2012, the shell became active again.
An annual report was filed in May of 2012. The report disclosed that the shell had undergone another change in control on paper. Early in 2012, two different acquisitions took place.
Aquistition #1) A company known as E-Green Marketing Inc which is controlled by Gary Koelsch and David Berman was acquired by the PWEI shell for 150,000,000 restricted shares. Either right before the acquisition or right after, Gary Koelsch took over as the CEO of the PWEI shell.
Prior to being acquired by PWEI, E-Green Marketing Inc was involved with Texas Gulf Energy Inc (TXGE) [then known as Global Nutech Inc] back in July of 2011. Global Nutech Inc had signed an agreement with E-Green Marketing Inc to market a product owned by American BioTech Cleaning Inc, known as Green Rhino, on the E-Green Marketing Inc website. According to a subsequent Global Nutech Inc filing, Global Nutech Inc decided to cut ties with both the product and E-Green Marketing Inc.
The Company entered into a marketing arrangement with American Bio-Tech Cleaning, Inc. (“ABT”) to distribute ABT’s line of Green Rhino environmentally-safe cleaning products for residential and commercial use. This arrangement was negotiated in the fall of 2010 and the Company made various attempts to distribute the products. On July 5, 2011, the Company entered into a relationship with e-Green Marketing Company to advertise and sell the Green Rhino line on the e-Green Marketing website. This was announced in a press release and a Current Report on Form 8-K. ABT has continued to manufacture demo products and given them to the Company and e-Green Marketing for presentation to retailers and the Company and e-Green Marketing have been negotiating with various retailers for shelf placement of the products. As of fiscal year end 2011, several major retailers are nearing final negotiations to carry the Green Rhino brand of products, although susbsequent to the IPS deal described below, the Company will cease its involvement with ABT.
According to the PWEI business description, PWEI has acquired the rights to manufacture and sell a line of cleaning products known as Green Rhino. The plan is to launch Green Rhino mid 2012. Through their partnership with SymbioTech they plan to introduce Green Rhino to the trillion dollar military market.
Through the joint venture agreement with SymbioTech LLC, SymbioTech LLC which is an Arizona entity controlled by Rebecca Bemis obtained 50,000,000 of the 150,000,000 shares issued for the acquisition of E-Green Marketing Inc.
As of the most recent PWEI filings no revenues have yet to be generated by E-Green Marketing Inc through the sale of any of the products offered on its website.
Acquisition #2) Another publicly traded shell known as ACT Clean Technologies (ACLH) was acquired earlier this year for 150,000,000 restricted shares of PWEI stock. ACLH was a company that was involved in a massive pump and dump with awareness spearheaded by Xtreme/OurHotStockPicks.com, HotOTC and others starting in early May of 2010. On May 25, 2010, the SEC suspended ACLH because of false and misleading statements that ACLH was putting in their press releases about being involved in the Gulf of Mexico oil spill clean up.
The PWEI / VLNX connections
The latest attorney recruited into the PWEI shell is Andrew Coldicutt. Andrew Coldicutt is the attorney for the most recent APS pump&dump, VLNX, and former APS pump&dump, CDOI.
As mentioned in the VLNX research report found here, Andrew Coldicutt is the son of Thomas D Coldicutt and Elizabeth L Coldicutt who both recently got busted by the SEC again (they are repeat offenders) this time for secretly funding and controlling shares in shells that were used for pump&dumps. See the SEC litigation release and SEC Complaint for more details. According to his yatedo page, Andrew Coldicutt has worked with the Carrillo Heuttel, LLP law firm over the past 2 years. Carrillo Heuttel is an AwesomePennyStocks regular and a Kirks/Skymark regular before that.
In that very same VLNX research report, we were introduced to Wayne Bailey, author of both the VLNX and CDOI filings while Andrew Coldicutt was involved. Sure enough, Wayne Bailey shows up with Andrew Coldicutt as the author of the PWEI filings as well as mentioned in this Andrew Colidcutt attorney letter.
9. The person responsible for the preparation of the financial statements contained in the information is Wayne Bailey, and his address is 1810 l6th Street, G107, Newport Beach, California 92663. The financial statements have not been audited.
Andrew Coldicutt and Wayne Bailey are not the only key links between PWEI and VLNX.
Like VLNX, PWEI is a non-SEC reporting shell with a spotty past.
Like VLNX, PWEI recently issued a chunk of free trading shares to an unnamed recipient. According to the quarterly report filed by PWEI on August 18, 2012, some time in April of 2012, PWEI issued 155,000,000 free trading shares for "an acquisition". The filings do not tell us what PWEI acquired or who those shares were given to. I don't even think that 155,000,000 newly issued shares can be free trading throwing up a major red flag. The author of that quarterly report was Wayne Bailey. The attorney signing off on that report was Andrew Coldicutt.
Like VLNX, PWEI has no cash on hand, no revenues, and its assets consist of only intellectual property.
Like VLNX, PWEI has kept quiet with no market activity for months after the most recent corporate restructuring.
Other important information about PWEI
The CPA listed for PWEI is Peter Messineo. Peter Messineo has been involved in previous pump and dumps such as AMWI (former APS play), FBCD, ACYD, TSLI (Aaron Lamkin shell) and current P & D ASCC among many other companies.
The PWEI website can be found here.
The current trading price of PWEI matches that of VLNX before the APS pump&dump started at $.10/share.
The current PWEI share structure looks like this:
500,000,000 shares authorized / 471,560,143 shares outstanding
ACT Clean Technologies (ACLH) - 150,000,000 shares (restricted)
E-Green Marketing (Koelsch and Berman) - 100,000,000 shares (restricted)
Gary Koelsch (CEO) - 7,500,000 shares (restricted)
Cindee Colombo (Secretary/Director) - 7,500,000 shares (restricted)
SymbioTech LLC (Rebecca Bemis) - 50,000,000 shares (restricted)
Former officers - 530,050 (restricted according to the filings)
Retail Investors - 1,030,093 shares (free trading)
Anonymous Entity - 155,000,000 shares (free trading) currently valued at $15,500,000
It is rare to see "mirror" companies both get promoted by the same promoters, but there is no denying that the signs of a future pump&dump being run on PWEI are overwhelming. Be careful with PWEI because we've seen what has happened to other mirror companies like RARS vs NSRS. All the same I will be adding PWEI to our watch list for a future paid promotion.