02 Apr Western Graphite Inc (WSGP) – moving quickly towards a future paid promotion
In a matter of hours, Western Graphite Inc (WSGP) went from just a future paid promotion ticker to a ticker ready to be promoted possibly as soon as tomorrow.
We first researched WSGP back on February 27, 2013 when the ticker announced a forward split and name change from Lucky Strike Explorations Inc (LCKY) to Western Graphite Inc. See that report here. We were able to break down the history of the shell and to sort out all of the changes that would end up happening to the shell since that date. On February 27, 2013, we also put WSGP on our list of tickers to watch for a future paid promotion.
Today at 10:52 am, WSGP put out their first every press release. Today at shortly after 2:00 pm, the first market maker showed up for the ticker and a bid was set at $.55. Today at just before 3:00 pm, WSGP saw its first ever trade, a 2,000 share block at $.55/share. The 2,000 shares were the only shares that insiders wanted to make available today and it now sets up WSGP to be promoted possibly as soon as tomorrow.
The following is a re-post of our original February 27, 2013 research report followed by a list of events that have happened since February 27, 2013.
Lucky Strike Explorations Inc (LCKY) will become Western Graphite Inc (WSGP) in a couple of weeks once the the D is dropped off and the forward split clears. The ticker is at the front end of a 10:1 forward split which became effective today.
Through research, I have uncovered future plans for this company that has already been in the works for at least 3 years.
Some background information
The Set -up
Lucky Strike Explorations Inc (LCKY) was taken public through an SB-2 filing way back on February 22, 2007. Lucky Strike Explorations Inc had only just been registered as a Nevada business entity on December 15, 2006. That means it was only 2 months old at the time and was obviously only created to take the shell public - a pretty good sign that the plan is for future insider enrichment and not to become a real business.
$14,000 was raised to help with the set up of the shell through the sale of 2,800,000 shares to Michael Noble, the original CEO.
Christian Jean Prieur of Bangkok, Thailand, was appointed as the Director.
Lucky Strike Explorations Inc then set up a forward looking business plan to raise money through the sale of share to the public (seed shareholders) at $.02/share with the intention to use the proceeds to pay for a mineral claim in Esmeralda County, Nevada from James McLeod.
Michael Noble - Michael Nobel had quite the resume. He had been hopping the globe from Canada to Thailand to the Philippines. Most of his career he was involved in health nutrition drinks, but he also spent some time as an insurance agent and as a financial consultant. Lucky Strike Explorations Inc was Michael Noble's first time ever being a CEO of a public shell and his first time ever being involved with a mining company.
According to the SB-2 filing, Michael Noble would be dedicating 5 - 7 hours per week to the operations of Lucky Strike Exploration Inc.
Christian Jean Prieur - Christian Jen Prieur who went to school in California, but spent most of his life working in Thailand in the health & leisure field. It was probably while in Thailand that Noble and Jean Prieur first met. Christian Jean Prieur had no experience with mining either.
According to the SB-2 filing, Christian Jean Prieur would be dedicating 1 - 2 hours per week to the operations of Lucky Strike Explorations Inc.
James McLeod - James McLeod has been supplying worthless mining properties and accompanying reports on the properties to penny stocks looking to go public for several years now. Some of the greatest hits that have used McLeod include - ADMC, LRDC, NVGC, NEPH, BROE, URBF, SNFV, SRSP, TNXP, MDCE, PLSB, NANI, GTCN (delisted), LBYE, CCRY, WCRE, UGDM, CGHK, RNGE, KYUS, NMGL, DPSI, CVGC, WESA, OSLE, ZRVT, RDVN,
The NVGC Connection
Nevada Gold Corp (NVGC) has a strange link to soon to be Western Graphite Inc. For 4 consecutive 10Ks filed by Nevada Gold Corp (NVGC), had the name Michael Noble in the signature line instead of the actual CEO of NVGC, Michael Hawitt.
So now the questions become what do NVGC and WSGP have in common and what can the history of NVGC tell us about what to expect for WSGP?
Both Nevada Gold Corp and Lucky Strike Explorations Inc were mining companies that went public using mining claim agreements with James McLeod.
Both Nevada Gold Corp and Lucky Strike Explorations Inc used George Stewart CPA for accounting services.
Both Nevada Gold Corp and Lucky Strike Explorations Inc did name changes and forward splits. NVGC did its name change and forward split (8.5:1) in July of 2012.
To date despite having done the forward split and name change more than 7 months ago, NVGC still has not started trading yet.
After going public
Lucky Strike Explorations Inc was granted public trading status on May 4, 2007.
After going public, 3,000,000 shares were sold to 26 unnamed seed shareholders for $.02/share raising $60,000.
Lucky Strike Explorations Inc didn't follow through with any of their plans for the James McLeod mining claim. All the shell did was let year after year pass doing nothing while the cash raised slowly dwindled away.
In January of 2012, cash finally ran out and the company began borrowing money from its CEO to keep going while it looked for new mineral properties to invest in.
On February 7, 2013, Lucky Strike Explorations Inc announced a name change to Western Graphite Inc (WSGP) and a 10:1 forward split.
The forward split and name/symbol change was approved by FINRA and made effective today.
The new share count will now look like this:
Michael Noble - 28,000,000 shares (restricted)
Seed Shareholders - 30,000,000 shares (free trading)
What had been going on behind the scenes
If we just go by the information available in the filings the history of the WSGP shell seems pretty boring and basic, but I turned over a few rocks and found some interesting things.
In January of 2010, Seyit Kucut, a Turkish citizen, registered a business entity in Turkey called Lucky Strike Exploration Inc (yes the same exact name of the publicly traded US shell minus the 's' after Exploration).
Seyit Kucut is involved in mining development and investment. In ads posted around the internet he has been trying really hard to sell the ownership of some property and equipment located in Turkey.
Seyit Kucut registered a domain for Zelda Resources in November of 2012, but never constructed the website. Zelda Resources Inc is a German company that claims to have graphite mining operations in Turkey.
On December 23, 2012, Seyit Kurut registered a domain for luckystrickeexploration.com.
The Lucky Strike Exploration domain available for viewing here is obviously made for the Lucky Strike Explorations Inc shell. It even has the trading symbol in the top right corner.
Here is where things get interesting. A visit to the Corporate page which lists the Executive team shows no Michael Noble and no Christian Jean Prieur.
It shows Steven Kucuk as the CEO and director, Lauren Notar as the VP and director, and Osmond Gulyurt as an officer.
Steven Kucuk resides in Germany, but has interest in Canadian and Turkish graphite properties. I am not sure if Steven Kucuk and Seyit Kucuk are the same person or just related. It is definitely one or the other.
On the website obviously slated for the WSGP shell until very recently, Lucky Strike Explorations Inc claims interest in 2 mining properties through Steven Kucuk:
The Pure Flake Graphite Property in Canada (link here)
The Pure Flake mining property owned by Lucky Strike Explorations is comprised of five contiguous mineral tenures covering approximately 2,464 hectares located in the Omineca mining division in the province of British Columbia, Canada.
Lucky Strike Explorations easterly claim boundary is directly west of the Black Crystal graphite quarry, operated by private corporation Eagle Graphite Corp., one of only a few producing graphite mines in North America. The claims are accessible by forestry roads, and a high-tension power line passes approximately five kilometers southwest of the property.
The Amorf Graphite Property in Turkey (link here):
The Amorf Graphite property owned by Lucky Strike Explorations which is located in south turkey comprises 495 hectares.
The odd part is that Lucky Strike Explorations Inc built this website a good 6 weeks ago, but they have yet to file anything with the SEC disclosing the change of control and the acquisition of the new properties.
Judging by the incorporation date of the Lucky Strike Exploration Inc entity in Turkey (January of 2010), it appears that this still yet to be disclosed change of control and acquisition has been in the works for over 3 years.
Something must have put a little dent into their original plans or the plan changed because on February 8, 2013, a new Nevada business entity called Western Graphite Inc was formed for the mere purpose of merging it into the Lucky Strike Explorations Inc shell to effect a name change for the entity as a way to help them get approval for a 10:1 forward split. Maybe what happened was that they realized that FINRA might not effect the forward split without the name change to go with it.
On February 26, 2013 (yesterday), Seyit Kucuk registered a domain at westerngraphite.com to be used as the new company website. I expect that the new website which hasn't been constructed yet will look exactly like the old never released website with the new management team and new properties.
What to expect next
Thanks to some rock turning, we now know that WSGP will be announcing a new website, a change of control and the acquisitions of some graphite mineral properties.
Western Graphite Inc has become the perfect example of a publicly traded shell that had its corporate actions planned out years in advance. Many of these penny stocks that we often talk about on our site had their whole futures mapped out since day one including the future merger company and the future paid promoter, etc.
Graphite plays have been hot as of late and WSGP is putting in place a business plan that should sell very well with investors. I don't expect that WSGP will sit dormant for 7 months after this forward split clears. I think that things will move quickly and trading should start within a matter of weeks if not less.
With 30,000,000 free trading shares of stock and who knows how many shares of stock that could be issued for private placement funding or toxic financing agreements this one certainly looks set up for a future paid promotion. The foreign connections especially in Germany opens up all sorts of possibilities for the promoter that might be used. All of the graphite promotions of late have used newsletter / hard copy mailer type of promotions. I get the feeling that WSGP is probably headed in that direction too. Depending on what price this one opens at, WSGP might even see some nice slow climbing price action prior to the promotion. Today I am adding Western Graphite Inc (WSGP) to our list of tickers to watch for a future paid promotion.
Since our February 27, 2013 report
We were pretty spot on about what to expect next in our original report.
On March 7, 2013, WSGP finally filed an 8k disclosing an agreement with Dr. Ahmet Unsal for the acquisition of the Amorf Graphite property in Turkey and with Seyit Kucuk for the acquisition of the Pure Flake Graphite property in British Columbia.
For the acquisition of the Amorf Graphite property, WSGP would issue 3,000,000 shares would be issued up front and future payments of $1,500,000 to Dr. Ahmet Unsal.
For the acquisition of the Pure Flake Graphite property, WSGP would issue 10,000,000 shares to Seyit Kucuk.
On March 15, 2013, the new Western Graphite Inc website went live found here.
The site has mostly the same information that was on the old Lucky Strike Explorations website (which is no longer available to be viewed) with a few added features like the following graphic promoting the uses of graphite:
On March 22, 2013, WSGP filed an 8K announcing that on March 6, 2013, Michael Noble and Christian Jean Prieur resigned from all of their positions and the new management team for WSGP would look as follows:
Seyit Kucuk - CEO, president, director
Lauren Notar - treasurer, CFO, secretary, director
From January 2004 to February 2013, Mr. Kucuk was employed at Deutsche Rohstoff AG and was entitled to act on behalf of Deutsche Rohstoff AG of Heidelberg, Germany, to mainly identify offers for chrome, manganese and other ores and concentrates internationally. His position was head mine prospector and advisor to the company for its Turkish operations
From March 2004 to June 2006, Ms Notar was an Investment Executive at Canaccord Capital Corp. in Vancouver British Columbia, Canada. Her duties and responsibilities included to procuring potential wealth management clientele and raising capital for various public companies.
From June 2007 to February 2008, Ms Notar was employed at Ryland Oil and Gas, an oil and gas exploration company in Vancouver, British Columbia, Canada, wherein she was responsible for the company's investor relations activities.
From April 2008 to August 2009, Ms Notar was self employed and was contracted out by Dolphin Enterprises, a mortgage software company and by Peach Facial Products, a start-up health products company, wherein she helped to construct marketing and sales programs to ensure financial growth and success for these companies.
From September 2009 to February 2013, Ms Notar was the president at Source Gold Corp., a gold mining exploration company. Source Gold Corp is a publicly traded company under the symbol (SRGL)
More about Source Gold Corp (SRGL)
Source Gold Corp went public as Ibex Resources Corp in 2008. Ibex Resources Corp signed an agreement for some properties in British Columbia from Barry J Price. On September 22, 2009, Lauren Notar took over as the sole officer/director of the shell. Ms. Notar immediately did a name change to Source Gold Corp (SRGL) and a 4:1 forward split giving the seed shareholders 20,500,000 free trading shares of stock. SRGL then became a pump&dump ticker. On October 30, 2009, the SRGL stock opened at $.55/share on its first ever trade (just like WSGP) then climbed to $1.24/share by December 12, 2009 before dipping back down to $.57/share before once again climbing to an all-time high of $2.03/share on April 26, 2010.
On March 22, 2013, Western Graphite Inc got its new trading symbol - WSGP
And of course today, April 2, 2013, WSGP had its first press release at 10:52 a.m. announcing the acquisition of the two properties, a bid showed up a little after 2:00 pm, and just before 3:00 pm the first trade hit (a 2,000 share block at $.55/share).
Current Share Count:
Authorized shares - 750,000,000 shares
Outstanding shares - 71,000,000 shares
Mike Noble - 20,000,000 shares
Kayit Kucut - 10,000,000 shares
Dr. Ahmet Unsal - 3,000,000 shares
Seed shareholders - 30,000,000 share (free trading)
WSGP has 30,000,000 free trading shares of stock. WSGP has foreign connections especially in Germany which opens up all sorts of possibilities for the promoter that might be used. All of the graphite promotions of late have used newsletter/hard copy mailer type of promotions. At this point I'm not sure what type of promotion WSGP may be headed towards, but with at least one big name promotion scheduled to come out as early as tomorrow morning, WSGP should be near the top of the watch list starting now. Western Graphite Inc (WSGP) remains on our list of tickers to watch for a future paid promotion.