TRUTHSEEKER WAS SHOCKED WHEN HE DISCOVERED THIS INFORMATION: zsun.com located on their web site.
NOTE 3 - OTHER ASSETS | Other assets consisted of the following at December 31, 1998:
Memberships in country clubs $ 142,857
Prepaid rental deposits 25,583
Mortgage note receivable 250,000
Common stock held to maturity 857,143
$1,275,583
Please note the Membership in Country Clubs and common stock held to maturity appears to add up to exactly 1 million dollars. This is exactly the amount that was needed for the 504 offering. The ZSUN 8 will be requesting this information in their discovery. Truthseeker beleives that these country club memberships come from the following and are not from some golf club in Hong Kong as Francois Goelo had state on raging bull and this message thread. He even went as far as to say these memberships could appreciate in value. Truthseeker wonders who the insider could have been that contributed these country club memberships as paid in capital by owners. One has to wonder if Anthony Tobin will try and cover up this relationship with Stephan B Spencer and change the corporate registration with the state of NV for PERIPHERAL VISIONS, INC. just like they did with the registration of ZSUN techstocks.com . What is common stock held to maturity? I have asked several accountants and they have never heard of it before.
Francois, you have not commented on this at all. Is this true about Anthony Tobins relationship with a known CRIM? Are these the golf membership fees ZSUN used as assets in their 504 filing when the raised the 1 million dollars in the reverse merger. These membership fees and the common stock held to maturity add up to one million dollars. What was the common stock held to maturity? Sounds like 144 stock to me. I have asked accountant after accountant and they have never heard of such a thing. Is George Badger or Stephen B. Spencer a shareholder of ZSUN? Which insider donated those memberships to ZSUN?
What do STEPHEN B SPENCER, Anthony Tobin, George Badger and ZSUN have in common when it comes to Golf Memberships?
Please read the entire document.
Registrant:
Momentum Internet Inc (PVISIONS-DOM)
PO Box 71, Craigmuir Chambers
Road Town, Tortola n/a
VG
Domain Name: PVISIONS.COM
Administrative Contact, Technical Contact, Zone Contact:
Domain Registrations (DR560-ORG) domreg@MOMENTUMPLUS.COM
+852 - 28778059
Billing Contact:
Domain Registrations (DR560-ORG) domreg@MOMENTUMPLUS.COM
+852 - 28778059
Record last updated on 08-Oct-98.
Record created on 08-Oct-98.
Database last updated on 11-Jul-99 19:39:33 EDT.
Domain servers in listed order:
WS1.MOMENTUM-HK.COM 204.254.71.158
NS2.MOMENTUM.COM.HK 210.176.85.38
But wait, wait, wait, there's more.
Name: PERIPHERAL VISIONS, INC.
Type: Corporation File Number: 25076-1998 State: NEVADA Incorporated On: October 27, 1998
Status: Current list of officers on file Corp Type: Regular
Resident Agent: NEVADA AGENCY & TRUST COMPANY (Accepted)
Address: 50 W LIBERTY ST
SUITE 880
RENO NV 89501
President: ANTHONY TOBIN (From ZSUN)
Address: 4945 S SOMMET DR
SALT LAKE CITY UT 84117
Secretary: STEPHEN B SPENCER (From Golf Ventures Inc)
Address: 4945 S SOMMET DR
SALT LAKE CITY UT 84117
Treasurer: STEPHEN B SPENCER
Address: 4945 S SOMMET DR
SALT LAKE CITY UT 84117
2. SECURITIES AND EXCHANGE COMMISSION v. GEORGE BADGER, GOLF COMMUNITIES
OF AMERICA, INC., f.k.a. GOLF VENTURES, INC., DUANE MARCHANT, STEPHEN
SPENCER, KARL BADGER, MARION SHERRILL, HARMON S. HARDY, LA JOLLA
CAPITAL CORPORATION, HAROLD B. GALLISON, JR., TERRY HUGHES, MARVIN
SUSEMIHL, DAVID ROSENTHAL, ANDREW SEARS, and WILLIAM SLONE; United
States District Court for the District of Utah; 2: 97 CV 963K
2. SEC v. Badger, et al.
The Commission's Complaint, filed in Salt Lake City, Utah, alleges as
follows:
During the period from early 1993 through early 1996, defendant George
Badger directed a scheme to manipulate the market for securities issued by
defendant Golf Communities of America, Inc., f.k.a. Golf Ventures, Inc.
(GVI) by bribing registered broker-dealers and some individual registered
representatives to sell GVI stock to unsuspecting retail customers, and
causing GVI to file false periodic reports with the Commission and to issue
false press releases to the public. GVI is a Utah corporation primarily
engaged in developing a golf course known as Red Hawk International Golf &
Country Club (the Red Hawk Project).
Badger and his son, defendant Karl Badger, arranged to have bribes
paid in the form of cash payments or free GVI securities to registered
representatives and broker-dealers. In October 1993, GVI paid a $10,000
"consulting fee" to Burnett Grey & Co., at the time a registered broker-
dealer, in exchange for Burnett Grey directing its brokers to sell GVI
stock to its retail customers. That agreement was negotiated by Badger and
defendant Marion Sherrill, the then-President of Burnett Grey. In December
1993, after Sherrill left Burnett Grey, defendant Harmon S. Hardy, the
majority shareholder of Burnett Grey, agreed with Badger to continue to
sell GVI stock to its retail customers. As additional compensation for
Burnett Grey's selling efforts, Badger later arranged for a block of GVI
shares to be transferred to Burnett Grey so that Burnett Grey could meet its "net capital" requirements and continue to operate as a broker-dealer.
During the period from October 1993 through February 1994, defendant Terry
Hughes and other brokers employed by Burnett Grey caused their customers to
purchase approximately 48,000 shares of GVI stock for approximately
$340,000, pursuant to the agreement between GVI and Burnett Grey.
After Burnett Grey went out of business in early 1994, defendant
Marvin Susemihl introduced Badger to defendant Harold Gallison, the
President of defendant La Jolla Capital Financial Corp. (La Jolla Capital),
a registered broker-dealer, where Susemihl was a registered
representative. Susemihl and Gallison negotiated an arrangement whereby
GVI paid La Jolla Capital approximately $35,000 as a phony "consulting fee"
in exchange for La Jolla Capital directing its brokers to sell GVI stock to
La Jolla Capital's retail customers. During the period from May 1994
through August 1994, La Jolla Capital representatives, including Hughes and
Susemihl, arranged the purchase of approximately 63,000 shares of GVI stock
at an aggregate price of approximately $498,000, pursuant to the agreement
between GVI and La Jolla Capital.
Badger and Karl Badger paid bribes to defendants David Rosenthal,
Andrew Sears, and William Slone, registered representatives associated with
other broker-dealers, who sold GVI stock to their retail customers in
exchange for the payments received from Badger and Karl Badger.
Finally, during 1995 and 1996, GVI failed to disclose in various
public filings and announcements that Badger controlled GVI, making nearly
all important decisions regarding GVI's business activities. In addition,
GVI made material misstatements and omitted critical facts concerning its
principal business -- the development of a residential golfing and
recreational community, the Red Hawk Project, on undeveloped land in
southwestern Utah. For example, in late October and early November 1996,
GVI announced that Granite Construction Corp. (Granite) had "completed 85%
of the mass dirt movement" associated with the Red Hawk Project, "should
complete onsite sewer installation by Wednesday, Oct. 30," and that Granite
had completed installation of certain sewer lines. In fact, Granite walked
off the job in late October 1996, after completing less than 50% of its
scheduled work, because GVI had run out of money to pay Granite.
Defendants Duane Marchant and Stephen Spencer served as GVI's President and
Chief Financial Officer, respectively, at the time that GVI engaged in
these false and misleading disclosures.
Based on the foregoing, the Commission alleges in its complaint that
Badger, GVI, Marchant, Spencer, Karl Badger, Sherrill, Hardy, La Jolla
Capital, Gallison, Susemihl, Hughes, Slone, Rosenthal, and Sears violated
the general antifraud provisions of the federal securities laws. In
addition to the relief the Commission is seeking in all these actions, in
this particular action, the Commission seeks a permanent bar against
Badger, Marchant, and Spencer from serving as an officer or director of any
public company.
In April 1997, Badger pled guilty in the United States District Court
for the Southern District of New York to a four-count information alleging:
(i) conspiracy to commit securities fraud, wire fraud, money laundering and
commercial bribery; (ii) securities fraud; (iii) criminal contempt; and
(iv) perjury. ======END OF PAGE 4======
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