14 Sep Pub Crawl Holdings (PBCW) – this APS shell is taking the next step
I've had my eye on Pub Crawl Holdings (PBCW) since December of 2011. The shell is an obvious AwesomePennyStocks (APS) shell. It uses Carrillo Huettel as legal counsel, has a debt Note owned by a Panamanian entity, and has all the tell tale signs of a future pump&dump.
History of PBCW
Pub Crawl Holdings Inc was incorporated in Nevada on 5/27/10
Location - San Diego, California - hometown of Carrillo Huettel.
Young/Inexperienced nominee CEO
Original CEO - Peter J. Kremer (age 29) - sole officer and director. Kremer graduated from the University of California in Santa Barbara in 2003 and had no prior experience with any publicly traded companies. He sites his experience building a website at one time as qualifying him to run the PBCW shell.
Peter J. Kremer makes it no secret on his LinkedIn page that he was hand picked by Carrillo Huettel thanks to his nearly 2 years of experience working in the Carrillo Huettel law firm
Peter J. Kremer received 5,000,000 shares on 6/14/10 in exchange for 100% interest in his company, PBPubCrawl.com, LLC
PBPubCrawl.com, LLC is a California business entity that was just formed on 6/7/10 (1 week before the acquisition).
Business operations consist of a website, Pbpubcrawl.com, that provides information on Happy Hours, drink specials, nightly specials and pub crawls for bars and restaurants in the Pacific and Mission Beach areas with plans to expand across the United States
At this time there were no other shareholders.
Suspicious Consulting Agreement
On September 23, 2010, PBCW signed a consulting agreement with Voltaire Gomez agreeing to pay him $10,000/year plus expenses for his part in helping Peter Kremer run the shell.
Voltaire Gomez is a former employee of Island Stock transfer. Voltaire Gomez also has some past experience as a market maker and has been involved with two publicly traded shells as an officer (RDSH) and (AVVC).
Voltaire Gomez has signed identical consulting agreements with at least 5 different Carrillo Huettel shells. Read here for more details.
Debt Notes to Anonymous Foreign Entities
Pub Crawl Holdings Inc took out a $75,000 promissory debt Note owed to an anonymous company - Sun Valley Investments
A settlement agreement was reached between Pub Crawl Holdings Inc and Sun Valley Investments on 5/25/11 for the $75,000 plus interest accrued ($7,500) for a total of $82,500
The Sun Valley Investments Note was paid off by Pub Crawl Holdings Inc taking out a new promissory debt Note with Deville Enterprises, Inc - an anonymous Panamanian business entity set up by Gray & Co which is the same group that set up all of the other Panamanian entities used in past APS pump&dumps. See here for more details.
So Pub Crawl Holdings Inc now has a $120,000 promissory debt Note plus interest owed to anonymous Panamanian entity, Deville Enterprises, Inc. So far to date the Note has accrued around $14,000.
Seed Shareholders set up for future enrichment
On February 27, 2012, PBCW sold 900,000 shares at $.05/share to 30 different private unnamed investors (30,000 each) for proceeds of $45,000.
Change of control
On September 3, 2012, Peter Kremer sold his 5,000,000 shares and control of the PBCW shell to Hubert Elrington for an undisclosed amount of cash. Hubert Elrington took over as the sole officer/director of the shell. Mr. Elrington has been a resident of Belize for at least the past 25 years.
On September 7, 2012, Hubert Elrington raised the authorized share count from 260,000,000 to 350,000,000 preparing the shell for the inevitable forward split that is so common in these Carrillo Huettel/APS pump&dump shells.
Today PBCW got approved for a 45:1 forward split.
Since PBCW hasn't done any financial disclosures since May 14, 2012, we don't know if any of that Panamanian debt Note has been converted yet. Putting that Note aside for now. The new outstanding share count after the forward split now looks like this:
260,500,000 shares outstanding
Hubert Elrington owns 225,000,000 shares
30 different seed shareholders own 1,350,000 shares each (40,500,000 total)
What to expect next
Those 40,500,000 seed shareholder shares will eventually want to be dumped for huge profits, but I'm not sure that a market for PBCW shares will start any time really soon.
With the change of control a change of business operations will probably occur soon.
There is no question that PBCW is set up for a future paid promotion. The question is will it be another RARS or will this one get the first class APS treatment?