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Technology Stocks : Gridline Communications

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From: RodeoGoat11/17/2016 9:51:56 AM
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I looked up public records and here is what I learned. In 1996, Terry Dillon started Wireless Communications Technology, Inc. He was seeking to do business in Africa. In 1999, he got sued. Securities fraud was alleged. Investors purchased stock. Mr. Dillon said the company was profitable and was going public but it appears the company had significant debt because note holders were not being paid. Company disappeared.

Jan 2006, Mr. Dillon became the President, COO and CTO of Gridline Communications Holdings, Inc. This company was also sued by an investor in August 2012. Investor had a note. Gridline did not make the payments. Lots of stock and notes were purchased by investors but the company had no revenue streams.

July 31, 2013, the SEC issued an Order against Gridline Communications Holdings, Inc. SEC revoked the Exchange Act Reg (12j). So, the stock trading game ended. On June 11, 2013, the SEC said that Gridline Communications Holdings, Inc. is a "void" Delaware company. They also said that the company had made no public filings since September 30, 2005 when the company stated in their financials that they had a $990,000 loss. So, during the time Mr. Dillon was the ships Captain he failed to play by the rules and make the filings so we would all know what was taking place. This is serious.

June 18, 2014, Mr. Dillon formed GridlineXstreme, Inc. and this company is trying to do business in Equitorial Guinea, Africa. This is based on press releases I found on the internet. Rumor has it he has raised a lot of money again selling stock and notes. Sound familiar. 2 years later the company is still blowing in the wind. Nothing is happening but Mr. Dillon makes press releases about joint ventures, etc. Anyone heard that before?

I've been in business 19 years and things don't always go as planned. I do understand. But, what I see is -- Mr. Dillon has left body bags from 1996 to the present. He has a new company now selling the same bill of goods. Gridline Communications Holdings, Inc. and GridlineXstreme, Inc. are in the same business trying to go to Africa. So, is Mr. Dillon credible? How can you sell the same goods twice over. Gridline Communications Holdings, Inc. is a void company. I take that to mean -- the company does not exist. Enough of the deception. Its time for Mr. Dillon to come forward and speak the truth. There is no reason to believe Mr. Dillon.
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