}

Saturday, November 11, 2017

MORE BULLSH*T FROM BUCKHANNON! Fact-Checking Defense “Objections To Presentence Investigation Report”

“MAKING FALSE STATEMENTS”, “FAILURE TO DISCLOSE”

Here are a few nuggets from the October 6, 2017 filing:


Gold Star Laboratories is not listed as a business entity created under the laws of the State of California — because it doesn't exist! And, along with his partner, Zia Shlaimoun, Robert Buckhannon left a landscape littered with unpaid judgments related to Gold Star.


But Goldstar Laboratories Missouri, LLC does exist, and it owes a pile of money (see July 28, 2017 Default Judgment above) to the Laboratory Corporation of America!

“Robert continued to run two laboratories”?

Into the ground, I suppose, along with his business partner, Zia Shlaimoun.

On April 23, 2014, a $4.75 million civil fraud judgment was filed in California's Superior Court against Shlaimoun, relating from a case that originated in Ontario, Canada. According to court documents filed in that case (Mining Technologies International, Inc. v. Krako Inc.) between May-July 2010, Shlaimoun was alleged to have received total deposits of nearly $11.0 million from at least six investors in an international bond fund scam. Schlaimoun's bankruptcy case, filed in California, lists debts incurred with Buckhannon during their Gold Star days.

On July 18, 2016, Robert Buckhannon's landlord, Asprient Properties, filed a rent and possession action against him in St. Louis, Missouri, for non-payment of rent on a two-bedroom condo in the Ely Walker Lofts building. Court records show Buckhannon, formally served on July 26, 2016, was later evicted. 


Wow! $35 million bucks?

Not really, and not even close.


In an SEC Form 10-K for the year ended December 31, 2012, Standard Gold revealed:
  
“On March 15, 2011, in an effort to enter the precious metal toll milling business, we entered into an exchange agreement by and between us, Shea Mining, Afignis, LLC, Leslie Lucas Partners, LLC, Wits Basin and Alfred A. Rapetti (the “Shea Exchange Agreement”) whereby we acquired certain assets from Shea Mining, which assets include those located in Tonopah, Nevada (financed through a note payable assigned to us), mine dumps, a property lease and a contract agreement in exchange for 35,000,000 shares of our unregistered shares.” 

“35,000,000 shares of our unregistered shares?”

SEC Rule 144 imposes restrictions on the resale of securities of public companies that are issued without the benefit of a registration statement. 

The unregistered shares of a public company must typically be held by an investor for a minimum of one year before they can be sold into the public market. 

After the one year holding period is satisfied, public sales of the unregistered shares are subject to volume limitations for an additional year. 

Sales in private placement transactions of unregistered securities to entities qualifying as sophisticated investors under SEC regulations are permitted, but the minimum holding period and volume limitations regarding resale in the public markets start anew each time the securities change hands. 

But there's more: 

“On March 15, 2011, in an effort to enter the precious metal toll milling business, we entered into an exchange agreement by and between us, Shea Mining, Afignis, LLC, Leslie Lucas Partners, LLC, Wits Basin and Alfred A. Rapetti (the “Shea Exchange Agreement”) whereby we acquired certain assets from Shea Mining, which assets include those located in Tonopah, Nevada (financed through a note payable assigned to us), mine dumps, a property lease and a contract agreement in exchange for 35,000,000 shares of our unregistered shares. The Shea Exchange Agreement did not include any operable toll milling equipment, employees or operational processes and therefore has been accounted for as a purchase of a group of assets. We have done initial internal metallurgical testing on some of the source materials at Tonopah, but have not done comprehensive metallurgical testing on all of them. 

OUR ASSETS ARE ENCUMBERED UNDER A FORBEARANCE AGREEMENT. 

The Tonopah property was subject to an existing $2.5 million first deed of trust which was in default at the time of the Shea Exchange Agreement, which was also assumed in the transaction. 

As part of the assignment, NJB Mining modified the related note to allow us numerous extensions. As of August 31, 2011, we were still in default under the terms of the note, and therefore entered into a forbearance agreement with NJB, in which NJB agreed to forbear from initiating legal proceedings, including forbearance of the deed of trust and enforcement of its collection remedies. 

The NJB Forbearance Agreement further provided for additional extensions up through December 9, 2011. On December 9, 2011, Pure Path Capital Management Company purchased the note and the NJB Forbearance Agreement directly from NJB. On December 21, 2011, we entered into an amended and restated forbearance agreement with Pure Path (the “A&R Forbearance”). Pure Path provided an additional extension to stay any action of the A&R Forbearance until June 8, 2012; such extension was provided without additional consideration. If not paid by June 8, 2012 or another agreement is not executed, the Company would be required to issue Five Million (5,000,000) shares of its common stock to Pure Path. 

The Company did not pay the balance of the mortgage on June 8, 2012 and pursuant to the terms of the A&R Forbearance Agreement, the Company was required to issue Five Million (5,000,000) shares to Pure Path. 

The Five Million (5,000,000) shares were approved for issuance by the Board of Directors on October 9, 2012 and were issued to Pure Path on December 6, 2012. Pure Path has granted us an until April 30, 2013 without any additional consideration as we negotiate the terms of a longer forbearance extension.” 

Let me translate: we have very limited assets, those assets are encumbered under a forbearance agreement, and the funds (Vestium and Arcanum) filed for bankruptcy in April 2010.

2 comments:

  1. You're absolutely right again, Miss Fortune - so much BULLSH*T! Boy, Robert has been doing so much, yeah, right! Thank you for doing such great digging up on the facts and the fiction of what he has been doing.

    ReplyDelete
    Replies
    1. I hope the feds are listening...and reading!

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