08 May Introbuzz (IBZZ) – initial stock research report
Today an amendment with the Nevada SOS to effect a forward stock split cleared for Introbuzz. See the Nevada SOS page here. I have been following Introbuzz for months because it has a unique, often special combination of Harold Gewerter (attorney) and Peter Messineo (accountant). The last ticker to use this combination of Gewerter and Messineo that ended up publicly trading was SVEN (an AwesomePennyStock ticker). To see why I think this is a special combination review this report.
As if the set-up wasn't suspicious enough already, Introbuzz has not even spent the money or effort to publish their website proving that this shell company did not go public to start a real business as it told the SEC. It went public to be used for a future pump&dump. The looming forward split is even more evidence of this fact.
Introbuzz is still in the early stages of a possible future pump&dump, but now is a good time to make an initial report on the ticker. From there we will continue to follow its progress towards a possible future paid promotion.
Introbuzz was registered as a Nevada business entity on April 30, 2008 by John Kueber.
At this time John Kueber held all the officer/director positions for Introbuzz and owned all 6,000,000 outstanding shares of Introbuzz stock.
When I see the name Kueber first thing I think of is Phil Kueber. Phil Kueber has been involved in several ugly penny stock pump&dumps including RICP, PEPR, WRIT, AMWI, CRWV, and ABOT). All of those but RICP got promoted by APS linked websites. Turns out that Phil Kueber has one brother. His brother's name is John Kueber. The very same John Kueber that incorporated Introbuzz. That is no coincidence. If you refer back to this post again you'll see that another Phil Kueber associate (Wendy Haviland) that worked with Phil Kueber in RICP, WRIT, AMWI, and PEPR incorporated another shell that uses the unique and special combination of Harold Gewerter and Peter Messineo called Personality Software Systems Inc. As you can see from the Personality Software Systems Inc filings, that shell hit a bump in the road trying to get approval for a ticker symbol. That makes Introbuzz Phil Kueber's best chance for his next future pump&dump shell.
On October 17, 2011, John Kueber sold his 6,000,000 shares (representing full control of Introbuzz) and a $47,000 debt Note (money he lent the company out of his own pocket) to Kenneth Carter for $600 cash. Yes that was an amazing deal for Kenneth Carter.
On January 20, 2012, Introbuzz filed an S-1 to go public.
At the time, Introbuzz had $15 cash, no revenues, a $47,000 debt Note owed to Kenny Blaque, and a forward looking business plan to become a web based social networking service.
The attorney helping with the S-1 filing was Harold Gewerter (number 11 on our list of attorneys to follow for a future paid promotion).
The accountant helping with the S-1 filing was Peter Messineo who in my opinion should now be considered the #1 accountant to follow for future pump&dump activity.
Despite what are obvious red flags to me, the SEC found the Introbuzz shell to be credible and approved the S-1 filing on June 1, 2012.
Seed Shareholders / Lack of Business Progress
Just prior to getting the S-1 approved, Kenneth Carther (aka Kenny Blaque) agreed to forgive the $47,000 debt note along with the accrued interest and some other expenses owned to him. All total the amount forgiven was $61,839.
On September 6, 2012, Introbuzz sold 1,086,000 shares to a group of anonymous seed shareholders for $.05/share raising $54,300.
To date, Introbuzz has not even managed to built a website. Pretty sad since the most crucial part of an online business is having a functioning website.
Change of Control
On April 18, 2013, Kenneth Carter was replaced by Marlon Luis Sanchez making Marlon Luis Sanchez the sole officer/director of Introbuzz.
According to his bio, Marlon Luis Sanchez is from San Diego where he has been working as a Partner in Sanchez Medical Services since 2002. A large part of his focus was on the Medical Tourism Industry.
The forward split
On May 6, 2013, as his first act, Marlon Luis Sanchez filed an amendment with the Nevada SOS to do a forward stock split.
Since the authorized share count increased from 10,000,000 to 50,000,000, that is a pretty good indication that it was a 50:1 forward split. We will probably see some kind of SEC filing soon to verify the size of the split.
New Share Count
Assuming it is a 50:1 forward split, the new share count will look as follows:
Authorized - 500,000,000 shares
Outstanding - 354,300,000 shares
Kenneth Carter - 300,000,000 shares
Seed Shareholders - 54,300,000 shares (free trading) - costing $.001/share
What to expect next
I get the feeling that Marlon Sanchez is just a place holder and that eventually we'll see another change of control. This time the change of control will come with new business operations through some kind of merger/acquisition and possibly a name/symbol change.
Soon we should see some kind of SEC filing making the forward split official. Event though IBZZ is probably still a few weeks (if not months) away from any kind of paid promotion, I can tell already that Introbuzz belongs on our list of tickers to watch for a future paid promotion just based on all the players involved in putting this one together and taking this one public.