22 Feb The Schneider Weinberger shell factory – RACK, FUEG, RDMP, ASPU, MLGT, BLES, BLFL, FPNC, Mobile Vault Inc, ShopEye Inc
Rather than do a separate report on Mlight Tech Inc (MLGT) which is doing a 20:1 forward split to be executed on February 28, 2013 giving its anonymous insiders 24,000,000 free trading shares of stock costing only $.0005/share, I decided to do a spread sheet that shows all 10 shells that have been manufactured by Schneider Weinberger LLP over the past 3 years with extremely similar set-ups.
All of the shells listed in this spread sheet were taken public by James Schneider and Steven Weinberger with no real operations and very little cash. After going public the shells are used to sell cheap shares to anonymous insiders. The shells that have reached the next stage then forward split the shares to give the insiders free trading shares of stock at just fractions of a penny. It seems obvious that these shells were all created using nominee officers with no real intent to develop a real business, but rather with the mere purpose to sell off the shells and allow the anonymous insiders to make huge profits from their super cheap free trading stock.
So far the 2 oldest of the 10 shells, RACK and FUEG have both been promoted and several others are following a very basic course towards paid promotions of their own.
James Schneider got his start in the penny stock world a good 15 years ago with Atlas Pearlman. He developed associations back then that he is still using today including Alvin Mirman.
Keep an eye on the tickers on this spread sheet because they could all potentially follow in the foot steps of RACK and FUEG:
(click the graphic to enlarge and view the full graphic) - to download a copy click on THIS LINK