17 Oct Swingplane Ventures Inc (SWVI) – This APS Cartel Shell just took a major step towards its future paid promotion
Back on September 7, 2012 when we did our research report on SWVI, we showed all of the major connections the shell has to APS insiders (Matt Diehl, Carrillo Huettel). Those APS connections plus a $150,000 anonymous debt Note and a 35:1 forward split propelled SWVI high up on our list of tickers to watch for a future paid promotion.
On Tuesday, October 16, 2012, SWVI took another huge step towards a future paid promotion. An 8K was filed announcing that SWVI issued 300,000,000 shares to a Belize entity called Mid Americas Corp. In exchange for those 300,000,000 shares issued to Mid Americas Corp, Mid Americas Corp gave to SWVI the option to acquire 75% ownership in a mining property located in Chile known as the Algarrobo Property. Mid Americas Corp doesn't own 75% of that mining property. They only own the rights to acquire 75% ownership and it was those rights to acquire 75% ownership in the Chilean mining concession that SWVI now owns.
In order to complete the acquisition of those mining rights, SWVI must pay to Gunter Stromberger and Elsa Dorila Durate Horta (the owners of the Chilean mining concession) a total of $2,700,000 in cash payments ($950,000 of which Mid Americas Corp had paid already) plus $5,000,000 in cash payments from new proceeds of production. On top of that $6,750,000 in cash payments stilled owed, SWVI is required to spend a total of $20,000,000 on the development of the mining property.
Here is a copy of the original agreement between Mid Americas Corp and Gunter Stromber and Elsa Dorila Durate Horta dated April 23, 2012.
I find one thing very interesting about the agreement.
At no time any where in the document does Mid Americas Corp ever disclose who controls the entity. All the places where the control person for Mid Americas Corp was supposed to sign were left blank. So we have an anonymous business entity located in Belize owning 300,000,000 shares in a very obvious APS controlled penny stock shell.
The last financial report showed that SWVI only had $18,494 cash as of June 30, 2012 and source of revenues.
Obviously SWVI will never come up with all the money needed to satisfy the terms of the agreement and complete the acquisition. It isn't about that. It's about setting up the shell with the type of business operations that can support a massive future pump&dump campaign.
SWVI has until December 1, 2012 to come up with the next $250,000 payment and until June 30, 2013 to come up with the next $750,000 payment after that. By June 30, 2012 the pump&dump will probably be over and SWVI will just disappear into darkness having lost 99% of its value from the peak of the paid promotion.
Gunter Stromberger won't care if SWVI is ever able to fulfill their financial obligations to complete the agreement because as part of the agreement he is guaranteed to be paid $25,000/month until the agreement is completed. At $25,000/month, Gunter Stromberger will make a cool $300,000/year just for allowing SWVI to attach his name to their future stock manipulation scheme.
What can be found about the Algarrobo mining property? Very little. More information is needed to be provided. Fact is that there are dozens of mining concessions located in this region of Chile and fact is that SWVI was probably very vague for a reason.
I did find mention of Gunter Stromberger and his Algarrobo mining property in an old 2002 press release for American Canyon Mining Inc.
"American Canyon Mining (AMC) is planning up to 20,000m of drilling at its Algarrobo and San Ramon copper-focused properties in northern Chile's Region III, a company official said.
Drilling is set to start shortly after the drilling permits are issued by the Chilean government, which is expected to take place sometime in May, said company partner Gunter Stromberger.
"The extent [of the drilling] depends on the success of the first drilling phase, which will qualify phase two, etc. If all phases work out as anticipated, we expect to drill 15,000-20,000m," he told BNamericas.
AMC is a Chilean company and was incorporated in 1994 as a subsidiary of a Nevada corporation, which Stromberger did not name. AMC Nevada has since ceased to operate, he added.
"Algarrobo and San Ramon are the only 'serious' projects we are pursuing as a result of our exploration activities at this time, all other activities are grass-roots," he said."
As part of the agreement with Mid Americas Corp, the current CEO of Swingplane Ventures Inc, Michel Voyer, agreed to cancel 337,500,000 of his 350,000,000 shares that he owned giving up control of the shell.
The 8K shows a new corporate address in Panama for SWVI probably due to the change in control now given to the anonymous Belize entity, Mid Americas Corp.
Punta Pacifica, Torres de las Americas, Piso 15, Torre A, Panama
The new SWVI share count now looks as follows:
Michael Voyer - 10,000,000 shares (restricted)
Johannes Antonius Lindorfer - 2,500,000 shares
Mid Americas Corp - 300,000,000 shares (not legally free trading, but this is a dirty APS shell so who knows)
Seed Shareholders - 122,500,000 free trading shares
It will be interesting to see if Michel Voyer steps down in the near future and who takes his place.
I'm not sure that SWVI will go through a name/symbol change. If it does it will happen soon.
SWVI is now set up with as much as it needs for that future paid promotion. It is just a matter of time from here.