Recently, The Street.com ran an excellent piece exploring the relationship between bio-dreck Galena Biopharma Inc. (GALE) and a sleazy stock tout shop that goes under many names (DreamTeam Group, MissionIR, Quality Stocks, etc.), you can read it here.
We first ran into this crew during the SEFE promotion in the springtime of 2012. And back then an enterprising reader sent in pictures of the vacant SEFE offices. Read that piece here.
The DTG stock touting swine have removed the disclaimer about GALE from their website, but a captured image was posted on Twitter (see here) and copied below:
Captured Disclaimer on GALE
A BuyersStrike! reader, @FranklinForward made a great suggestion to visit DTG HQ. And so we decided to take a field trip. But to where, exactly?
Yesterday a post at the Bronte Capital blog pointed out that odious, hyper-promotional, Galena Biopharma (GALE) has a Direct-To-Consumer program that offers a free month of their super-fast-acting fentanyl, which they sell under the brand name Abstral.
Fentanyl is a synthetic opiate drug that is 100 times stronger than morphine and 20 times stronger than diacetylmorphine. What’s diacetylmorphine, you ask?
Nanoviricides (NNVC), a hype-drenched bio-dreck reverse merged into a shell called, no joke, Edot.com, is located in leafy New Haven, CT. Run by septugenarian Eugene Seymour, and recently debunked by reporter Teri Buhl (see here and here), NNVC has been touted in the past by the memorable Patrick Cox, and currently by the disgraced Tobin Smith, fired by FOX (see here) over his pumping of Petrosonic Energy (PSON).
Patrick, as many may remember, was one of the Agora stable of “writers”. So it was not a huge surprise to find a reference to Agora in NNVC’s SEC filings.
The text of the filing, however, was a huge surprise. From the July 8, 2013 8K:
Ever wonder about the finances of penny stock pushers like Steve M. Kerr or Michael L. Quiel? Here’s your chance to satisfy that curiosity, thanks to the PSRs recently released in the USA v Kerr case.
First take a look at Steve Kerr’s, page 18 is pretty telling, looks like over 4mm in profits for 2007’s p&ds:
And then learn all about Quiel, who looks like he has a net worth of about $15mm:
They each made quite a pretty penny, cannot wait to see Humble Harold’s P&L!
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It was only a year ago when the Sefe, Inc. (SEFE) promotion was in full swing, and just weeks since Steve Kerr and Michael Quiel were convicted in case that illustrates how they used sham Swiss entities to mask share sales in their promotions.Shannon Kerr left the tattered remains of the company in March. But what has happened to the other players?
Just a year ago Steve Kerr and Michael Quiel‘s Sefe, Inc. (SEFE) was in the middle of its hype-filled promotion to nearly $3.00. Today, SEFE would be lucky to see 3c, and Kerr and Quiel will be lucky to see daylight.
Day after day FUQI shares trade, without the SEC doing a thing to protect investors from this long-running, obvious, Chinese con. Recall that FUQI has not filed a 10K since its 2008 report.
Yet the regulators are not always so reticent to act. In fact, the SEC has suspended trading in 13 companies since the beginning of 2013 due to “lack of current and accurate information.”
For example, on the first of March, the SEC halted trading in Southern USA Resources (SUSA):