|Re: 7/26/01 - [ZSUN/GENI] Cautionary Tale Of A Little Stock Called Ziasun And Big Losses (Part 1)|
By: Tidewaters $$$
Reply To: None Thursday, 26 Jul 2001 at 9:21 PM EDT
Post #28213 of 28272
Cautionary Tale Of A Little Stock Called Ziasun And Big Losses (Part 1)
Small Ziasun Technologies Inc. appears to be the familiar tale of Internet stocks, which rocketed in price on favorable news only to come back to earth after some of that news' accuracy was questioned. The tale of Ziasun underlies how hard it can be for investors to track some companies' financial prospects, and to discern the financial backing of some fledgling Internet firms.
At the heart of the Ziasun story is a convicted drug dealer and con man named Regis Possino, whose name has shown up in numerous court regulatory filings and other documents as a consultant and shareholder in numerous companies. Further evidence that there might be a widespread conspiracy to defraud investors is provided by the fact that Regis Possino, a disbarred California attorney Apart from disbarment in 1984, Possino's history includes being imprisoned for one year in 1978 for trying to sell $38,500 worth of marijuana to undercover Los Angeles cops, trying to place a monthly order for $680,000 worth of cocaine with the same officers, attempting to sell $5 million of stolen US treasury bills or bearer bonds to an undercover treasury agent, undergoing a $12 million personal bankruptcy and interfering with a witness at his trial on the marijuana offense, leading to her dismissal from the jury and his imprisonment for the rest of his trial. "One evening during the trial, petitioner encountered one of the trial jurors as she was waiting for a table at a restaurant," reads the official record of his appeal against disbarment. "He approached her, initiated a conversation and bought drinks for her and her companions. Although they did not discuss the merits of the case, petitioner asked the juror what she thought of the prosecutor. He also talked to her about himself, other persons involved in the trial and the judge. Learning that the juror was a religious person, petitioner discussed his own religious beliefs with her. The conversation ended when the juror and her friends were called to dinner." Details of all of the above, with the exception of his bankruptcy, which was closed in 1992 with assets of $229,000 and liabilities of $12.18 million, were presented to the California Bar Association at his appeal against disbarment. Although Possino's appeal against disbarment was thrown out, three of the eight members of the panel voted against disbarment and thought his license should only be suspended for five years!
So I know everyone wants to know what Regis Possino's connection to Ziasun could possibly be. The answer can be found in one of the buy reports that Mark Bergman of Access1Financial put out on Ziasun. In the disclaimer of the report it states "The author(s) may have positions in the stock or financial relationships with the company discussed and may trade in the stock mentioned." What Access1financial failed to state in the disclaimer is the firm that was faxing out and promoting the stock was "Corporate Financial Enterprises." Its right on the cover sheet that they faxed me located at 2224 Main Street, San Monica, CA 90405. Further evidence of a conspiracy to defraud is that the same address appears on the Access1financal buy report for Ziasun. Regis Possino operated out of a former art gallery not far from the Pacific Ocean, on a commercial strip in Santa Monica, CA. Corporate Financial Enterprises, Inc. is a private investment banking and consulting firm owned by Mr. Regis Possino
John R. Emshwiller reported in the Wall Street Journal that according to Stuart Allen, a retired SEC investigator who helped investigate a past stock fraud network that included Mr. Possino, Mr. Possino's current activities "suggest he may be involved in a new network involving stock deals and promotions." As recently as December 1999, Idaho securities regulators obtained a judgment and injunction in a Boise State court against a company they said was owned by Regis Possino. The regulators alleged that the Possino-owned company and one of its salesman misled investors in the selling of two stocks that produced more than $150,000 of losses for the buyers. Possino and company failed to mention that the shares being offered were controlled by Mr. Possino or that one of the stocks had already been at the center of an SEC manipulation lawsuit. The judgment came after the Company didn't respond to the suit.
With such characters promoting Ziasun's stock it was no wonder that Continental Capital & Equity (Who's owner John Manion at the time had ties to the Russian Mob and shortly there after was sent to prison for securities fraud) Ziasuns third IR Company proudly profiled Ziasun and claimed that Ziasun had received an INDEPENDENT buy recommendation from Access1financial with a remarkable $36 price target within 12 months. Continental Capital & Equity also had ties to Possino. which also promoted ESAT Inc stock Later it would be found in numerous class action suits where Mr. Bergman had written buy reports for that his defense was that the companies themselves gave him the information and that his buy reports where just advertisements for the companies and that the companies themselves provided the information.
So known criminals are writing buy reports with unheard of price targets. Nothing stops Ziasun. Ziasun decided to put out there own press release touting the INDEPENDANT buy report. ziasun.com
As investors know now the report was bogus. Ziasun pulled the wool over the average investors eyes claiming that the report was INDEPENDANT, which it was not.
David Evans of Bloomberg also wrote a few stories about Mark Bergmans analyst career. see;
For a Fee, Analyst Mark Bergman Will Hype Your Company's Stock
Xybernaut Promotes `Buy' Report by Analyst With a Conflict
Access1Financial also wrote a similar paid advertisement for Chequemate International Inc. which Mr. Bergman had put a price target of $24 on the paid advertisement. This did not stop Chequemate International Inc. from putting out a press release stating that their company had received a buy recommendation from INDEPENDENT ANALYST Access1Financial with not even a honorable mention that the buy report was paid for and was in reality an advertisment.. c3ddigital.com
In the actual disclaimer (which I have a copy) it was not clear as to how many shares of Chequemate International Inc. Access1financial was to receive for this advertisement. The disclaimer stated that they would be paid 25,000 to 75,000 shares of Chequemate International Inc. stock for investor relations. (Future Information Upon Request). In many such disclaimers I have seen the paid promoter is paid on a sliding scale and is compensated by how high the stock can go after the report is put out. In Chequemate International Inc case the stock rocketed from about $7to $17.50 on huge volvume right after they had a reverse 1 to 4 stock split. DDD closed today at 17 cents.
Today Regis Possino has found a new home. According to a story in the Format he is running the daily affairs of Adnan Khashogi's ( Yes, the arms dealor) bank which according to the format is being run by criminals. You do not get CD's at this bank. They are selling reg "S" shares on highly questionable companies on the otcbb. Regis allstars at Khashogi's bank include
Raxesh Saxena is rumoured to have contributed to the Billion bankruptcy of the Bangkok Bank of Commerce ($2.4B damage, accused by thai authorities).
A U.S. citizen named "Regis Possino" is running daily affairs of the bank, international reports call Possino a californian ex-lawyer who has been abolished due to drug trafficking & fraud.
The finder of the deal appears to be "Raoul Bertha(u)mieu", a canadian citizen, who took over a seat on WMPs board a longer time ago. Berthamieu has been convicted under check fraud. His nickname is "Lee Sanders", his newest company is named "Pacific Federal, Inc."
"Global Capital Partners" is the dominating shareholder in "WMP" according to reports.
GCAP, WMP and others are accused of pumping weak stocks.
One such stock Khashogi's bank is pushing is Castpro which name was changed to Thoan Communications. The link was quickly taken down by them once Internet posters had found out that Regis Possino the criminal was involved and started posting about it on ragingbull. I did save the link and It still works. Castpro was also connected to Ziasun. In another promotional advertisement touting Castpro by Steven Reid who also wrote a buy report which was a paid advertisement on Ziasun he had stated he had witnessed a teleconference where Ziasun had used Castpro's technology. In Mr Reid's disclaimer he stated that he was paid by a third party. After pressuring him with emails Steven Reid finally admitted that Ziasun's IR company had paid them and that they where the third party. How a companies IR company can be considered a third party is beyond me since an IR company is representing the company. When asked which IR company paid him since Ziasun had had three IR companies he emailed back and stated that he had to talk to his attorney and that I was harassing him.
Pay close attention to the two officers names of Access1financial then read The Address of Regis Possino. By the way, did I tell you that part of Ziasun's portfolio includes Hartcourt stock?.
Nevada Secretary of State
Name: ACCESS 1 FINANCIAL, INC.
Type: Corporation File Number: 23887-1999 State: NEVADA Incorporated On: September 28, 1999
Status: Initial list of officers filed Corp Type: Regular
Resident Agent: CORPORATION TRUST COMPANY OF NEVADA (Accepted)
Address: 6100 NEIL ROAD #500
RENO NV 89511
President: MARK BERGMAN
Address: 2224 MAIN ST.
SANTA MONICA CA 90405
Secretary: CHRIS DJERNAES
Address: 2224 MAIN ST.
SANTA MONICA CA 90405
Treasurer: CHRIS DJERNAES
Address: 2224 MAIN ST.
SANTA MONICA CA 90405
According to this SEC filing Regis Possino has the same address as Access1financial, 2224 Main Street, Santa Monica CA 90405.
A private banking and consulting firm. What a tangled web we weave. Mark Bergman and Regis Possino two birds of a feather. Worst of all nothing has been done.
HARTCOURT COMPANIES INC filed this 10SB12G/A on 07/03/1997
SHARES OF SERIES A-1 PREFERRED STOCK BENEFICIALLY OWNED
NAME AND ADDRESS NUMBER OF SHARES PERCENT OF SHARES OWNED
---------------- ---------------- -----------------------
"Corporate Financial(1) 1,470,590 45%
2224 Main Street
Santa Monica, CA 90405"
"(1) Corporate Financial Enterprises, Inc. is a private investment banking and consulting firm owned by Mr. Regis Possino."
TO BE CONTINUED, PART 2 TO FEATURE STOCKREPORTER.DE AND MUCH MORE ABOUT THE COMPANY THAT TEACHES PEOPLE HOW TO INVEST
ZiaSun Receives Investment Opinion From Stockreporter
Stockreporter Issues Strong Buy Recommendation
Of $28.50 Year 2000 Share Price Target
SOLANA BEACH, Calif., April 20 /PRNewswire/ -- ZiaSun Technologies, Inc. (OTC Bulletin Board: ZSUN; Frankfurt/Hamburg: ZIA) today announced that Stockreporter issued a strong buy recommendation on ZiaSun, with a year 2000 target price of $28.50 per share, which, relative to a current trading level of approximately $10 per share, indicates tremendous potential for investors over the short and long term. Stockreporter is a leading European financial Internet publication located at stockreporter.de that specializes in the coverage of micro-cap stocks and undervalued companies. "We believe ZiaSun is a tremendously undervalued stock. Stockreporter believes that ZSUN could appreciate to trading levels in line with other companies in the Internet incubator sector. For example, Internet incubator CMGI is currently valued at roughly $80 per share with a $23.5 billion market cap, despite a net loss of over $300 million for the first six months alone," commented Stockreporter's Torsten Prochnow. "Stockreporter is recommending the purchase of ZSUN for investors who want to establish a position in their Internet incubator sector. We are anticipating that ZiaSun may be one of the top performers in that sector because of its continued strong performance in North America and its focus and early positioning in the Asia Pacific and European markets -- the two regions generating the world's fastest growing Internet user base."
ZiaSun is a profitable Internet incubator with rapid earnings growth and a very strong position in the financial, investment, auction and e-commerce sectors of the explosive Internet industry. Record fiscal 1999 results were posted with earnings of $10.7 million, or $0.49 per share EBIT, on revenues of $27.2 million. It also reported dramatic balance sheet improvements with $20.2 million in total assets and $11.7 million in cash at year-end to
aggressively pursue its growth objectives for 2000.
View the complete Stockreporter report on ZSUN, prepared by Christina Skousen, Registered Investment Advisor, at stockreporter.de .
About ZiaSun Technologies
ZiaSun Technologies, Inc. is a leading Internet technology holding company focused on international investor education and e-commerce and specialized online support services within North America, Asia and other international markets. The Company's Internet portfolio includes: Online Investors Advantage ( i-advantage.com ), Momentum Asia, Inc. ( momentumasia.com ), ServiceLive ( servicelive.com ), Momentum Internet, Inc. ( momentumplus.com ), PINmail ( pinmail.com ), MEDIAhits ( mediahits.com ), Swiftrade ( swiftrade.com ), AsiaEnet Ltd. ( asiaenet.com ), Tigertooth ( tigertooth.com ), Search Dragon ( searchdragon.com ), M Finance( mfinance.com -- a top-100 financial website), and a 19% equity position in Asia4Sale ( asia4sale.com ).
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the matters discussed in this news release that my be considered forward-looking statements could be subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected. These include uncertainties in the market, competition, legal, success of marketing efforts and other risks detailed from time to time in the company's SEC reports. The company assumes no obligation to update the information in this release.
SOURCE ZiaSun Technologies, Inc.
Web Site: ziasun.com