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Glad you did MM. I almost bought a bunch yesterday, but something just didn't ring true. The NR was a bit too self serving and this halt will no doubt clarify the reason for the sell off yesterday. Still, could produce a nice dead cat bounce, but where??
Both companies were acquired from Adolf Huckschlag or his wife, Carol, in exchange for shares, making them Alta's controlling shareholders.
Huckschlag has been involved in several low-quality Vancouver Stock Exchange promotions including Drexore Developments Inc., Baha Resources Ltd. and Pola Resources Ltd., none of which achieved any level of commercial success.
Helping to co-ordinate the company's marketing efforts has been vice-president of sales Greg Shafransky, who has had prior regulatory problems.
In December 1989, the B.C. Securities Commission found he had committed securities violations relating to his promotion of an unrelated VSE company, OEX Electromagnetic Inc. It prohibited him from trading shares or serving as an officer or director of any B.C. public company for two years. In September, the company appointed Piers Vanziffle, who has also had regulatory difficulties, manager of retail operations.
Vanziffle is a former chartered accountant who was expelled by his professional association in 1990 for irregularities relating to his audit of VSE-listed Marathon Minerals.
VSE surveillance director Angela Huxham said Monday that neither Shafransky nor Vanziffle, due to their regulatory histories, "would be acceptable to serve in any capacity with a VSE-listed company."
LOOK OUT BELOOOOOOOWWWWWWWW
This article should ensure that the dead cat falls right through the basement! SPLAT
This says it all (from the Van Sun) VSE surveillance director Angela Huxham said Monday that neither Shafransky nor Vanziffle, due to their regulatory histories, "would be acceptable to serve in any capacity with a VSE-listed company."
What a scam..I knew something was wrong after speaking to IR a few times..He said they had 6 months worth of news releases all prepared and ready to go..What a RED-FLAG that was....I should of shorted the damn thing....