Mr79
1 week ago
Here is their reply. Which, given the things they have told us over the last couple of years, some of it sounds like BS to me. What are your thoughts?
Thank you for reaching out with your concerns regarding the Form 10 filing.
I want to emphasize that I am not in a position to truly address your questions as they are more for CNNA. I will do my best to answer your questions…
We understand the frustration that comes with uncertainty, and we appreciate your patience as we navigate this complex process.
As previously communicated, the requirements for filing Form 10 are governed by the SEC and involve intricate coordination with auditors. The re-auditing of multiple years, necessitated by the well-documented situation with Borgers, has added significant complexity to this process. This matter was widely known in the market, and its impact on our timeline is unavoidable.
Unfortunately, we are unable to provide a precise date for completion, as the variables involved are beyond our control and ultimately are in the hands of CNNA and the SEC. Providing specific timelines has, in the past, led to misunderstandings, with some shareholders interpreting them as firm commitments. To avoid further miscommunication, we have been asked to refrain from offering speculative timelines moving forward.
Regarding your reference to a post by Mr. Kramer, please note that his personal social media activity is independent of Prodigy’s official communications. The post you mentioned, to our understanding, was shared by CNNA, our parent company, on their own platform. As a wholly owned subsidiary, Prodigy is not responsible for CNNA’s filings or their communications. Therefore again, I am not in a position to discuss the specifics of their Form 10 process.
However, I can assure you that CNNA is working diligently to meet their obligations, and any material updates will be shared through their official channels when appropriate.
Finally, I must emphasize that, as a wholly owned subsidiary of a public company, we are bound by strict regulations regarding the disclosure of material information.
We value your support as a shareholder and understand the importance of clarity. However, we respectfully ask for your understanding as we work diligently to meet our obligations under these challenging circumstances. Continuous speculation and negativity from some shareholders only complicates the process further, and we encourage all shareholders to remain constructive as we move forward.
Squirrely_McShitty
1 week ago
I've been puzzling it, and here's my bet:
Management is uncertain they can get a Form 10 through the SEC for CNNA. It may just be too "damaged".
If they went PC/AR before they knew they could successfully achieve SEC reporting status, and then are unable to get a Form 10 approved, they would have to dump the CNNA shell & find another, as they want dearly to be SEC reporting. Anything else won't serve their end goal.
If CNNA is trading PC/AR, dumping & replacing CNNA for another shell (doing yet another RM) is disruptive, presents bad optics, likely more expensive, and could potentially lose a greater number of shareholders (besides us peons) a greater sum of money (besides our sub-penny buys).
Therefore, they will never take CNNA public via PC/AR. It's the Form 10 or it's jack shit. All or nothing.
So, the bet here is "is CNNA salvageable for SEC reporting" or "is CNNA unsalvagable and (likely) worthless"? Questions about the underlying value of what's in CNNA are meaningless at this point. Any questions anyone could think to ask are meaningless at this point. Either CNNA goes SEC reporting or it doesn't, and management doesn't know the answer to that question yet. Hence, we wait.
Since management is so determined to be SEC reporting, one figures there must be something of value there. Whether we will own any of it or not is another question.
So there's no "scam" here or any of that other shit. They likely had a conversation about whether to come out & say flat out its "all or nothing" or not, and decided against it (which may or not be the correct decision, could argue both ways). So what to say instead? Keep the troops hope up and say "soon" (with an unexpected screw from Borgers).
They got a bit *strong adult language ... you're thinking it right now, but I can't write it* when they got booted off the OTCM in June '23. They likely honestly thought they would stay current. But once it happened, they figured "well, we'll just plow forward with the Form 10 and try and get PC/AR status back". So they filed the NT-10Q on 14 July. But between 14 July & 10 August when they filed the RW, withdrawing the Form 10, they figured out they may be a little *strong adult language* on being able to get the Form 10 through. And if they can't do that, why do anything with CNNA. It worthless to them then. And we've been here ever since.
Blah, blah, blah. I talk too much.
Either I'm really stupid and am just figuring out what everyone else already knew or that's the motive for not getting current by going PC/AR.
Hi_Lo
2 weeks ago
https://www.securitieslawyer101.com/2023/shell-hijacker-mark-miller-sentenced-to-one-year-in-prison/
On May 18, 2023, Mark Miller became the last of three men to be sentenced for a securities fraud scheme that involved hijacking several abandoned penny stocks, then using them for an illegal pump-and-dump stock manipulation scheme. Miller pleaded guilty to count 1 of the Indictment, Conspiracy to Commit Securities Fraud, and was sentenced to 12 months and 1 day in prison, followed by 2 years of supervised release...
CNNA recently appointed Jason Tucker, former CEO of LEAS, as its new CEO, giving it yet another connection to past Miller frauds. And according to SAPX OTC disclosures, on December 27, 2022, all the debt notes previously put in the name of Capitol Capital Corporation were transferred to an entity named Via Capital, represented in the SAPX filings by Jesus Cipriano, keeping the notes active despite Mark Miller’s various legal issues. Via Capital immediately started converting the debt into large chunks of free trading stock, including 150,000,000 shares on December 28, 2022, 150,000,000 shares on February 21, 2023, and 180,000,000 shares on March 6, 2023. SAPX has also begun to issue new debt notes to Via Capital.
Hi_Lo
2 weeks ago
https://www.securitieslawyer101.com/2023/shell-hijacker-mark-miller-sentenced-to-one-year-in-prison/
Besides his hijacking antics, Miller has also faced some legal pressure in a separate civil suit filed against him in the United States District Court for the Northern District of Illinois by David Goulding, Howard Salamon, Robyn Goulding, and John O’Shea, regarding a company named Capitol Capital Corporation. According to the court documents, the individuals collaborated, together with Jason Black, to create a convertible debt Note in Indo Global Exchanges Pte Ltd (IGEX) in the name of Capitol Capital Corporation, using old existing debt and alleged “service fees”. The individuals then agreed to split the proceeds from the stock sales.
Court documents show that Capitol Capital Corporation received several big chunks of stock in IGEX, then transferred the shares to Tiger Trout Capital LLC, a Puerto Rican entity controlled by Alan Masley. A bank statement from December 2019 provided in the lawsuit shows that Tiger Trout Capital LLC would then transfer money back to Capitol Capital Corporation, who, in turn, split the money between Mark Miller and Jason Black (Market Cap Concepts LLC). At the time, Jason Black was the CEO of IGEX, and none of the debt conversions were disclosed in any of the IGEX OTC filings.
Public records show that Capitol Capital Corporation has also been involved as a noteholder in at least three other public issuers that used Jason Black as the CEO, MedX Holdings Inc (MEDH), Cann American Corp (CNNA), and Seven Arts Entertainment, Inc (SAPX).
CNNA recently appointed Jason Tucker, former CEO of LEAS, as its new CEO, giving it yet another connection to past Miller frauds. And according to SAPX OTC disclosures, on December 27, 2022, all the debt notes previously put in the name of Capitol Capital Corporation were transferred to an entity named Via Capital, represented in the SAPX filings by Jesus Cipriano, keeping the notes active despite Mark Miller’s various legal issues. Via Capital immediately started converting the debt into large chunks of free trading stock, including 150,000,000 shares on December 28, 2022, 150,000,000 shares on February 21, 2023, and 180,000,000 shares on March 6, 2023. SAPX has also begun to issue new debt notes to Via Capital.
Previously, in December 2020, Gary Kouletas (PAG Group LLC), who was another insider in LEAS and MEDH, was arrested and charged in a separate pump & dump scheme involving Global Resource Energy Inc (GBEN). That Indictment references an unnamed “Cooperating Witness” who is described as “a stock promoter and CEO of several public companies under federal investigation for securities fraud-related offenses but not yet charged.”
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170221017
Share selling scam exposed (IGEX, MEDH, SAPX, CNNA)
Hi_Lo
2 weeks ago
Jason Black CNNA CEO
Straight from the SEC website:
https://www.sec.gov/enforcement-litigation/litigation-releases/lr-25469
Rahim Mohamed, Davies (Dave") Wong
SEC Charges 18 Defendants in International Scheme to Manipulate Stocks Using Hacked US Brokerage Accounts
Litigation Release No. 25469 / August 16, 2022
Securities and Exchange Commission v. Rahim Mohamed, Davies ("Dave") Wong, Glenn B. Laken, Richard C.S. Tang, Zoltan Nagy, Jeffrey D. Cox, Phillip G. Sewell, Breanne M. Wong, Christophe Merani, Anna Tang, Robert W. Seeley, Richard B. Smith, Christopher R. Smith, H.E. Capital SA, POP Holdings Ltd., Maximum Ventures Holdings LLC, Harmony Ridge Corp., and Avatele Group LLC, Defendants, and 9224-3708 Quebec, Inc., a/k/a Distributions Bano, and Jason Black, Relief Defendants, No. 1:22-cv-03252 (N.D. Ga. filed Aug. 15, 2022)
The Securities and Exchange Commission today charged 18 individuals and entities for their roles in a fraudulent scheme in which dozens of online retail brokerage accounts were hacked and improperly used to purchase microcap stocks to manipulate the price and trading volume of those stocks. Those charged include Rahim Mohamed of Alberta, Canada, who is alleged to have coordinated the hacking attacks, and several others in and outside the U.S. who allegedly benefited from or participated in the scheme.
According to the SEC's complaint, in late 2017 and early 2018, hackers accessed at least 31 U.S. retail brokerage accounts and used them to purchase the securities of Lotus Bio-Technology Development Corp. and Good Gaming, Inc. The unauthorized purchases allegedly enabled fraudsters, who already controlled large blocks of Lotus Bio-Tech and Good Gaming stock, to sell their holdings at artificially high prices and reap more than $1 million in illicit proceeds. According to the complaint, Davies Wong of British Columbia, Canada, and Glenn B. Laken of Illinois, respectively, controlled the majority of the Lotus Bio-Tech and Good Gaming stock that was sold while the hacking attacks were being carried out, and Mohamed coordinated with Davies Wong, Laken, and others to orchestrate the attacks. The complaint also alleges that Richard Tang of British Columbia, Canada, was involved with both the Lotus Bio-Tech and Good Gaming schemes.
The SEC's complaint charges violations of the antifraud and beneficial ownership reporting provisions of the Securities Act of 1933 ("Securities Act") and the Securities Exchange Act of 1934 ("Exchange Act"), and names two relief defendants who received proceeds from the hacks. More specifically, the complaint charges the following defendants with the following violations:
• Rahim Mohamed of Alberta, Canada, with directly violating, and aiding and abetting violations of, Section 17(a) of the Securities Act, and Sections 9(a) and 10(b) of the Exchange Act, and Rule 10b-5 thereunder;
• Davies Wong of British Columbia, Canada, Richard Tang of British Columbia, Canada, Zoltan Nagy of British Columbia, Canada, Anna Tang of British Columbia, Canada, and Breanne Wong of British Columbia, Canada and Panama, with directly violating, and aiding and abetting violations of, Section 17(a) of the Securities Act, and Section 10(b) of the Exchange Act, and Rule 10b-5 thereunder, and directly violating Sections 13(d) and 16(a) of the Exchange Act, and Rules 13d-1 and 16a-3 thereunder;
• Glenn B. Laken of Illinois, Jeffrey Cox of Alberta, Canada, Christophe Merani of Illinois, and Phillip Sewell of British Columbia, Canada, with directly violating, and aiding and abetting violations of, Section 17(a) of the Securities Act, and Section 10(b) of the Exchange Act, and Rule 10b-5 thereunder;
• Robert Seeley of the Dominican Republic, Christopher R. Smith of the Dominican Republic, Richard B. Smith of the Dominican Republic, Wyoming entity Harmony Ridge Corp., and Nevis entities H.E. Capital SA and POP Holdings Ltd., with aiding and abetting violations of Section 17(a) of the Securities Act, and Section 10(b) of the Exchange Act, and Rule 10b-5 thereunder;
• Wyoming entity Maximum Ventures Holdings LLC, with aiding and abetting violations of Section 17(a) of the Securities Act, and Section 10(b) of the Exchange Act, and Rule 10b-5 thereunder, and directly violating Sections 13(d) and 16(a) of the Exchange Act, and Rules 13d-1 and 16a-3 thereunder; and
• Wyoming entity Avatele Group LLC, with directly violating Sections 13(d) and 16(a) of the Exchange Act, and Rules 13d-1 and 16a-3 thereunder.
The SEC's complaint also names Quebec, Canada entity 9224-3708 Quebec Inc., a/k/a Distributions Bano, and Jason Black of California and/or Georgia, as relief defendants. The SEC seeks the return of ill-gotten gains plus interest, penalties, bars, and other equitable relief. The SEC's investigation is continuing.
The SEC's investigation has been conducted by Joshua Dickman and Lucy Graetz of the Atlanta Regional Office, Andrew McFall of the Washington, D.C. Office, and Patrick McCluskey of the Philadelphia Regional Office, with the assistance of Marlee Miller and Owen Granke of the SEC's Office of International Affairs. The case is being supervised by Acting Chief of the Crypto Assets and Cyber Unit Carolyn Welshhans, Market Abuse Unit Chief Joseph Sansone, Justin Jeffries and Natalie Brunson of the Atlanta Regional Office, and Amy Flaherty Hartman of the Chicago Regional Office. Robert Gordon and William Hicks of the Atlanta Regional Office will lead the SEC's litigation, supervised by M. Graham Loomis.
The SEC appreciates the assistance of the Financial Industry Regulatory Authority, the Alberta Securities Commission, the Australia Securities and Investments Commission, the British Columbia Securities Commission, the Calgary Police Service, the Cayman Islands Monetary Authority, the Dubai Financial Services Authority, the French Autoritƒ© des Marchƒ©s Financiers, the Hong Kong Securities and Futures Commission, the Mauritius Financial Services Commission, the Ontario Securities Commission, the Quebec Autoritƒ© des Marchƒ©s Financiers, the Royal Canadian Mounted Police, the Securities Commission of the Bahamas, the Sƒ»retƒ© du Quƒ©bec, the Superintendencia del Mercado de Valores de la Repƒºblica Dominicana, the Swiss Financial Market Supervisory Authority, and the United Kingdom Financial Conduct Authority.
To learn more about how to protect your online investment accounts from fraud, please visit the SEC's Office of Investor Education and Advocacy investor alerts webpage.
• SEC Complaint
Last Reviewed or Updated: May 31, 2023
Squirrely_McShitty
2 weeks ago
Let me first say I am supporting no other poster's opinion but my own.
CNNA has two active companies ... One does stem cell treatments , which list a public phone number and public contact page on a public website. The other sells discount medical services cards, which list a public phone number and a public contact page on a public website.
As opposed to a secret phone number, contact page, and website? 😉
OK. Define "active". Is active "legally existing & incorporated" or is active simply "have outward-facing proof of existance"? Prodigy Elite Group has a multi-page website with a fair amount of text, links, and an active shopping cart. For perspective, I had a soap business once ... Paper Street Soap. In business for seven years. Publicly incorporated. Had a web page with over 100 separate, distinct pages. About 80 or 90 pages with links to buy. Professionally-taken photos ... at least 100. Had a trademark dispute through USPTO with 20th Century Fox over the name. Public phone number. Public contact page. Looked almost ligit. Know what that company turned in revenue in its best year? About $50,000.
Moral of the story? "Publicly facing" tells one squat about revenue, viability, or potential. We have no idea CNNA's companies exist beyond their publicly-facing presence. Not even ownership has stated these companies have revenue to speak of. The closest they have come that I recall is stating CNNA is able to move forward financially vis-à-vis filing fees & such w/o outside sources. That is much different than stating these businesses are revenue generating.
So, did the companies under CNNA do $50,000 or $50,000,000 last year? Prodigy is a black box. None of us knows what's in there.
So explain to us what possible economic motive would CNNA, who can't create new shares or sell shares to the general public, have to string current shareholders along and discourage future shareholders interest by posting they will be trading soon and not delivering.
Fair enough. A good question, and one I have spent a little time thinking about and have posited myself. Have a couple questions in response.
First, who's to say CNNA ownership's motives are purely economic? Or that even if they were, those motives would be plain for all (or some) to see?
Second, question for all - what authority or established rule states that while in EM & not reporting, officers cannot sell personal shares? Existing company shares, for that matter? I ask b/c I don't know. Please don't say "because they can't". I'm looking for the specific law/rule. If no one can produce it, who's to say its not legal, legalish, or indeed occurring?
Third, explain to me, exactly, what ghosts are. Where do they come from? Why? Short answer is no one really knows for certain. Lots of theories. But we know the phenomenon does exist. Point is, just b/c one can't definitively explain in detail how or why something exists doesn't mean it doesn't exist World religions are built on this very principle. Billions still believe in this "god" everyone talks about, but belivers cannot produce the goods.
Fourth, given our incomplete knowledge, we rely on our senses to determine "reality". If it looks like a ghost, acts like a ghost, and speaks like a ghost, there's good reason to believe it's a ghost (yes, silly. I know). So if CNNA ... well, you get the idea.
CNNA knowing that by not delivering they would create a flock of disgruntle shareholders who would clog up their public phone line and contact pages with NASTY comments expressing their personal frustrations.
Oh, we are so beyond "we arrived" here it's amusing. I highly doubt, however, their phone lines or contact pages are anywhere approaching clogged. But it does raise some questions:
First, why do they keep going on with this "sOoN" business? What do they gain from saying "sOoN" and then failing to produce? It's happened often enough that it's a running gag at this point and it's valid to propose the action is not random or sincere.
Second, why hasn't CNNA gotten current via PC/alternative reporting? I cannot see a valid reason for this. Either they choose not to or are unable. No one - including CNNA - has answered this question.
Third, I'd love to know who keeps painting this ticker green. Like yesterday ... 750k shares sold, bringing the price "down" to $0.0035, then the painter swoops in and buys his/her usual 2,000 shares to bring the price back "up". This has been going on for at least a year. It likely matters little, but I'm curious AF.
In short, CNNA's actions do not speak well of them, and certainly don't conform to their words. Their communication is spotty, inconsistent, and empty of anything - anything - substantial. We know nothing concerning their current revenue or success. And those, friends, are not positive attributes or harbingers of coming success.
That was a lot longer than intended. Sorry all.
🐿Mc💩
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