benjjones
2 weeks ago
After waiting months and months for some news I decided to do further due diligence. The history of the Spinola CEO and founder does not make for good reading. Ade Repcenko (or Abe Adrian Repcenko on company listings) is his current identity, but his original name was ABE ADRIAN CAMILLERI. You only have to Google this to find out that he spent a lot of years in Australia where he acted as a finance con man, made himself bankrupt on several occasions and took innocent peoples life savings in the process (including his own family and friends), all through mortgage and lending fraud.
In 2009, he was jailed for fraudulently misappropriated an investor's money through his company at the time, Asset Finance Services Pty Ltd. After his release from jail, he then got involved with John Ibrahim in multi-million pound mortgage fraud. When this case went to court, he pushed blame elsewhere and then fled the country back to Malta. This is where he changed his identity and took his wifeโs name (theyโve now recently divorced), to attempt anonymity for anyone searching him.
Whilst back in Malta he tried a number of methods to make money, including marketing, web development and campaign hacking. His fraudulent behavior has continued with a number of court hearings in Malta, where he owes people large sums of money. He then moved into the gaming industry. Having absolutely no background in this, Spinola Software Solutions was formed and registered via Cyprus in 2016. The Jackpot Group was later registered in Malta. As we know, Malta/Cyprus offers protection when dealing outside its jurisdiction and has a clear advantage on gambling due to the lack of legislation. Repcenko wanted to attract overseas investors - step up HDUP - by showcasing Spinola as a business that was lucrative and that had millions of euros in contracts. The lies continued with bold statements such as โleading providerโ and a number of paid strategic industry papers to enhance the companyโs image. In reality, this was a ruse given that the software (to this day) still doesnโt exist, other than fake demos and no contracts. No updates on socials since 2021 either. A handful of mock-ups have been the extent of Spinola, and thatโs all that was required to assist investment. HDUP has been blindsided.
Going by the financial listings, HDUP have forwarded a serious amount of money without any returns. You have to question what due diligence has taken place given what Iโve easily found during a simple search. The fact that this is listed as a loan gives some indication on how this has been played out and is the exact same tactics that saw Repcenko/Camilleri jailed previously. He is a known criminal for fraud and as his internet history shows, he has a very persuasive and coercive method of operation.
The silence on any further acquisition, other than a nonsense and repetitive โboth parties working togetherโ line in the financials, tells us that HDUP have 1/ realized theyโve been duped; 2/ been given the silent treatment whilst Repcenko walks away with their money; or most probably 3/ 1 and 2 combined! Either way, getting money back from Cyprus/Malta is going to be a tough ask. The silence is deafening from HDUP (no messages for a year) and Iโm sure theyโre as gutted as we all are that the Spinola deal has turned out to be one massive scam.
Repcenko/Camilleri has already moved on to his next victim and is now working for WA Technology as โLottery CCOโ. Iโve noticed that the Spinola website is offline for long periods and hasnโt been updated in over 2 years. Their staff (I would guess former) are clearly not very happy: โthe company is a scamโ - https://www.glassdoor.co.uk/Overview/Working-at-Spinola-Gaming-EI_IE5024887.11,25.htm - all indicating that no bills have been paid and are now defunct.
Sorry to say, but my conclusion is that the Spinola deal is non-existent and absolutely dead in the water and has been for a number of years. If the $2million loan figure is accurate, thatโs a horrible one for HDUP to write off!
solong
2 weeks ago
Are you with a circus? After your last proclamation that it was a scam, I wrote:
LOL, so he bought $800 worth and now he is engaged in an elaborate pump n dump? Then he puts out a tweet that says, IF THEY PUT OUT NEWS, it will run. And you've concluded that's a pump-n-dump.?
And for that he'll be in prison? Am I getting that right? There are single cell organisms smarter than you!!
I hope I don't get sued by single cell organisms for insulting them!! LMAO!
and to that you wrote, "you just took money from innocent people" - I am not selling and haven't sold , so please explain how I took money?
Can't wait to hear your next words of wisdom!! It's time to block you, before whatever it is that you have rubs off...GL
grantastic
2 months ago
HDUP has 5-figure "consulting" expenses every year: $27,413 in 2023, $78,015 in 2023 was paid to directors. I assumed it was going primarily to Mark Hutchinson, but you are correct in pointing out that I don't know how that money is divided between the 3 directors.
Whatever Mark Hutchinson is receiving in compensation, the only 'work' he's doing to benefit HDUP is sending private messages to people asking them to "keep the faith." Meanwhile, Every. Single. One. of the money-making schemes previously touted by HDUP went radio-dark over a year ago.... right after the last major promotional pump finished.
Spinola was initially lent $720,000 in 2021. (not $750k). The Arnold & Lynne Kellner debt has been owed (and growing) since Feb 7, 2006. 2006 is nowhere close to "around that time". You may be thinking of the $782,080 loan recorded to CEO Douglas Wilson in 2021.
Spinola being sent $2m is by definition "a benefit". Because it's a private offshore corporation, it's obviously impractical to trace what the owners of that corporation did with the money. The bogus Spinola acquisition was promised to complete in November 2021. Now it is overdue by 2.5 years, and the only "progress" was to ship it more money in 2022. HDUP executives haven't bothered to recognize or account for any interest on the Spinola "loan". That tells me they actually know it's not a bona-fide loan.
Nearly all of this is documented in the annual filings & on the public websites/profiles of the "acquired" companies.
At some point, when all these "Made by Wix" websites haven't updated in enough years, even you will realize the "acquisitions" and "partnerships" were just a facade.
I skimmed through previous financial filings and can't find that Hutch received any CASH, he did receive 5,000,000 shares in lieu of salaries and expenses. And he still owns all but 250k of those shares.
Those 250k shares were transferred to a James Mueller for a value of $250.00. (that info is documented at the bottom of page 5 of the latest filing).
Please show where Hutch received "5-figure consulting fees" for replying to linkedIn messages".
And regarding Spinola, some time ago they showed up as having received a loan from the company of $750k. Around this same time I noticed that Lynne and Arnold Kellner had loaned the company $750k, it was in the filings from that time period. Since then there have been apparently additional loans to Spinola, but they were never shown as "gifts" so Spinola still owes that.
You have any proof that they someone benefitted by $2mil from the company?
When you make allegations it would be nice if you'd back it up with facts. Thanks.
solong
2 months ago
$HDUP - I began buying this around .03 about 4 years ago...I've bought as high as .12. As the share price dropped, I sold shares at every level equal to where I bought them. (protecting your investment) - I've been buying back
My fears? Kelly shouldn't be in charge of a Dairy Queen. He's a Carnival Barker (promoter). His business, Enteractive Media / Gamechangerz - has been a failure for YEARS. But he has family members with 10's of millions of shares and they haven't sold.
So you have to watch the jockey (Mark or "Hutch"{), and ignore the horse (Kelly).
And, someone has been buying, I have no idea who that is. And Spinola still owes the company over $2mil, a good sign.
I still have hopes, but it's not a scam, it might be incompetence (Kelly) but it's not a scam. IMO
solong
2 months ago
$HDUP - I skimmed through previous financial filings and can't find that Hutch received any CASH, he did receive 5,000,000 shares in lieu of salaries and expenses. And he still owns all but 250k of those shares.
Those 250k shares were transferred to a James Mueller for a value of $250.00. (that info is documented at the bottom of page 5 of the latest filing).
Please show where Hutch received "5-figure consulting fees" for replying to linkedIn messages".
And regarding Spinola, some time ago they showed up as having received a loan from the company of $750k. Around this same time I noticed that Lynne and Arnold Kellner had loaned the company $750k, it was in the filings from that time period. Since then there have been apparently additional loans to Spinola, but they were never shown as "gifts" so Spinola still owes that.
You have any proof that they someone benefitted by $2mil from the company?
When you make allegations it would be nice if you'd back it up with facts. Thanks.
solong
2 months ago
"During the year ended January 31, 2024, the Company advanced $Nil (2023 โ $536,162) to Spinola.
As at January 31, 2024, total amount due from Spinola was $2,086,722 "