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Pristine Solutions Inc (PRTN) – Research Report

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25 Aug Pristine Solutions Inc (PRTN) – Research Report

 

Pristine Solutions Inc (PRTN) started trading for the first time ever yesterday, August 23rd seemingly out of no where.  Yesterday evening, PromotionStockSecrets put PRTN on our watchlist for a paid promotion and put out alerts to our members that something unusual was going on with PRTN and to keep the stock on high alert in case a paid promotion started today.  It seemed like a prime candidate for the next Victory Mark promotion or the next AwesomePennyStock promotion on Monday.

Today the volume jumped up even more as millions of dollars of shares traded hands (a total of 22,610,983 shares).  Some of that volume probably can be attributed to our early alerts and some other pre-promo sites jumping on the band wagon, but most of that volume came from else where.  The huge spike in volume pushed the stock price up from $.15/share to $.53/share at one point today before settling back down to $.225/share.

 

 

Pristine Solutions Inc (PRTN) definitely deserves an in depth research report.  I think we have only seen the beginning so far of what PRTN has in store for investors.

 

Pristine Solutions Inc (PRTN) - Research

PRTN followed a pretty basic pattern up until this week.

PTRN was registered as a Nevada business entity on December 8, 2009 with the sole purpose of filing an S-1 to go public 5 short months later on May 3, 2010.

Providing the legal opinion for the shell was Carrillo Huettel.  Carrillo Huettel has been linked to dozens of past pump&dump shells including many linked to AwesomePennyStocks and the Kirks/Skymark.  Providing legal correspondence between the company and the SEC was MacDonald Tuskey who can also be linked to several past pump&dumps including LEXG and many old William Scott Marshall plays.

Pristine Solutions Inc was not a real company.  The shell went public with no revenues and no real business operations (just forward looking statements).

The sole officer and director of the shell was a 31 year old with no previous experience with any publicly traded companies named Christine Buchanan-McKenzie.  Christine Buchanan-McKenzie's prior experience amounted to some time as the manager of a retail store in Jamaica.  She was obviously just a nominee officer planted their by insiders that really control the shell in the background.

Insiders were set up with extremely high amounts of stock (even for a pump&dump shell) for next to nothing. 

1) On December 8, 2009 (the day the shell was born) Christine Buchanan-Mckenzie was given 40,000,000 shares at a cost of just $0.00015 per share for cash proceeds of $6,000.

2) On January 29, 2010, 29,666,781 shares of common stock were issued to 36 private investors at $0.0015 per share for proceeds of $44,500.

 

By January 31, 2012, that $50,500 in cash had dwindled down to just $201.  It was time to put the next stages of this future pump&dump shell into action.

On March 7, 2012, Christine Buchanan-McKenzie filed an amendment to raise the authorized share count to 650,000,000 and to execute a 6:1 forward split.

Christine now owned 240,000,000 shares which she received for just $6,000 ($.000025/share)

Those 36 private investors now owned 178,000,686 free trading shares that they received for just $44,500 ($.00025/share).

Today, PRTN took the final step in setting up the shell for a promotion led pump&dump.  Two 8Ks were filed.  The first 8K was for the change in control.    Christine Buchanan-McKenzie stepped down from all of her positions and Michael Borkowski took her place.

According to Michael Borkowski's bio, he has spent several years as a venture capitalist mostly working as a consultant.

Since June 2008, Mr. Borkowski has been working with Huntingon Chase, Ltd assisting it’s Merchant Banking activities with multiple companies including Ecologic Transportation, a 100% Environmentally Friendly Transportation Company, Montecito Bio Science, a Biotech Company, and Audio Eye, an internet and mobile technology company. Mr. Borkowski played a key role in identifying potential transactions, introducing key relationships, assisting the companies in their transition from private to public sector, restructuring of their corporate structure, and successfully completing their private placements.  

Three companies really stand out from that list.  Ecologic Transportation, Montecito Bio Science, and Audio Eye.

Ecologic Transportation is a publicly traded company under the ticker (EGCT).  Through his company, Oracle Capital Partners, LLC, Michael Borkowski is paid as a consultant by EGCT.  Michael Borkowski is a major EGCT shareholder.

The chart shows that after this group got involved in 2009, the stock followed a pump&dump pattern.

Montecito Bio Science together with Parallax Diagnostics Inc signed an agreement with a public company called ABC Acquisition Corp.

Audio Eye is a company controlled by  CMG Holdings Inc (CMGO).  This is the CMGO website.  This is the main website for Audio Eye

The CMGO chart also exhibited a pump&dump pattern after this group got involved in 2010

 

Those three companies all have websites hosted on the same server.

 

 

All of those companies also have something else in common besides sharing the same server and Michael Borkowski.  They all have Edward W Winslow III as an officer.

http://www.montecitobioscience.com/management.html

http://ecologictranspo.com/management.html

http://parallaxdiagnostics.com/board-directors.html

http://www.audioeye.com/corporate.html#investor

Here is the linkedIn page for Edward W Withrow III.

Edward W Withrow III is the founder of Huntington Chase Financial Group.  Michael Borkowski works for him there.   Back in 2003 - 2004, Withrow was involved in Reward Enterprises Inc (RWRD) with his brother.  Eventually RWRD got suspended then revoked by the SEC.

I also found one more interesting link naming Withrow as being involved in a lawsuit with a public company (CPLY) as a shareholder.

 

And that takes us to the second 8K filed today by PRTN.  This 8K was for a share exchange.  PRTN acquired a company called Eaton Scientific Systems Ltd. which is a Nevada business entity for 25,000,000 shares.

Those 25,000,000 shares were split up as follows:

Edward W Withrow III - 13,750,000 shares
Sky Holdings Inc (Hootan Melamed) - 7,500,000 shares
Jennifer Berman - 1,250,000 shares
David Stark - 500,000 shares
Michael Borkowski - 500,000 shares
Samuel Brown - 450,000 shares
Kyle Withrow - 450,000 shares
Calli Bucci - 350,000 shares
Gardner Williams - 250,000 shares

Eaton Scientific Systems Ltd does come with a patent co-authored by Edward W Withrow III and Hootan Melamed from 2007 for a possible non-hormonal treatment of hot flashes in pre-menopausal, pari-menopausal, and post-menopausal women.

The odd thing is that on Edward W Withrow III's LinkedIn page he says he stopped running Eaton Scientific Systems Ltd in June of 2010.  

The information found at the Nevada business entity for Eaton Scientific Systems Inc supports the possibility that Eaton Scientific Systems Inc ceased to continue operating starting in 2010.  No annual report was filed for 2010 or 2011 and Eaton Scientific Systems Inc was revoked by the Nevada SOS before being reinstated just in time to execute this share exchange with the PRTN shell.

 

PRTN has yet to file a super 8K to share the financial numbers for Eaton Scientific Systems Inc, but based on other companies connected to this group, I expect that Eaton Scientific Systems Inc will be cash poor with little to no revenues, the only asset being the patent that has yet to be developed into anything marketable.

A couple things of note from the share exchange.  

1) Eaton Scientific Systems Inc is listed with an address of 9595 Wilshire Blvd., Suite 900, Beverly Hills which is a virtual office.

2) Probably through some kind of typo, instead of using the name Eaton Scientific Systems Inc on the shareholder list, the name Eco-Tek Group Inc. was used.

 

Eco-Tek Group Inc recently did its own share exchange with a publicly traded shell known as Sandalwood Ventures, Ltd (SWDZ).   SWDZ has displayed similar patterns to PRTN including a 28:1 forward split in January of 2012.

SWDZ has slowly climbed from $.11/share to $.95/share since the forward split and is probably one to keep in eye on in the future.

 

Where will things go from here?

If PRTN follows a similar pattern to past publicly traded companies linked to this group the share price should continue to rise before the major dumping starts.

PRTN will probably start touting its patent and the prospect of making millions of dollars in the future by marketing their intellectual property.

I expect to see Christine Buchanan-McKenzie either transfer or cancel all or most of her shares.

The current share count looks like this:

443,000,686 shares outstanding = market cap of $99,675,154.35

Christine Buchanan-McKenzie - 240,000,000 shares currently worth $54,000,000
Seed shareholders - 178,000,686 shares (free trading) currently worth $40,050,154.35
Edward W Withrow III - 13,750,000 shares
Hootan Melamed - 7,500,000 shares
Jennifer Berman - 1,250,000 shares
David Stark (Parallax) - 500,000 shares
Michael Borkowski (EGCT, CMGO, Parallax) - 500,000 shares
Samuel Brown - 450,000 shares
Kyle Withrow (EGCT) - 450,000 shares
Calli Bucci (EGCT) - 350,000 shares
Gardner Williams (EGCT) - 250,000 shares

Many of those nominee seed shareholders hold between 6,000,000 and 8,500,000 shares each making them millionaires.  Who really controls those shares in the background and will make the millions off of selling them we don't know, but there is a very good chance that PRTN will be part of a paid promotion soon.  As always be smart about taking profits. 

 

 

 

 

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