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It is very interesting that the first message for LVEN which is headlined at the top of this board is from Jay Goldberg talking about the issuing of 3 million shares of LVEN stock for $305 million dollars.What Jay forgot to "jot" down was the identity of these investors.As a matter of fact when asked for the identity of the new investors Jay Goldberg,Joe Corazzi,Carl Sambus or anyone else affiliated with LVEN were unwilling to let shareholders know who they were. In a proxy vote in the spring of 1999 LVEN shareholders were asked to vote on the issuance of these 3 million shares to these phantom investors.Shareholders had the RIGHT TO KNOW who we were becoming partners with.The reason why Jay,Joe,Carl,etc. didn't tell you who the new investors were is obvious.If shareholders had known that the new investors were Dr. Fred Cruz and company with his criminal background and his preposterous assets from his company,Countryland Wellness,they all would have been laughed out of Wall Street. When this exploded in everyones' faces in October 1999 with the move to buy Jackpot, the LVEN people would have you believe that they were unaware of Dr. Cruz's background.If this is true they were guilty of gross negligence in not doing their proper due diligence.The current board of directors should be voted out of office at the next annual shareholders meeting.Of course this would be impossible because LVEN has NEVER had an annual shareholders meeting in all these years.However,that is another matter. What appears to have happened is that LVEN with Dr. Cruz waiting in the wings bided their time until they could find the right moment to drive the stock price higher.That moment came in October 1999 when the SEC filing was released announcing LVEN's intent to acquire Jackpot at $11 a share.The fact that this acquisition ws filed with the SEC gave this deal the appearance of legitimacy.As a result the stock on Friday October 9,1999 tripled in value with about half the floating shares traded.Only then did shareholders learn of the identity of Dr. Cruz and his fictitious financing.By the time the truth began to come out it was already too late.The stock had already been pumped and dumped.Within one week the SEC halted trading on LVEN.Most investors were left in the lurch. Serious crimes were committed here.The most notable is a filing with the SEC by LVEN to acquire a company (Jackpot) with funding which didn't exist.The FBI is already investigating U.S. Guarantee Corp. which was supposed to be the link to Dr. Cruz's funds.If you have any knowledge of the link between LVEN,Dr. Cruz and U.S. Guarantee call the FBI's Phoenix,Arizona office at (602)279-5511.Ask for an agent who is dealing with the U.S. Guarantee raid.Also contact the SEC Los Angeles office at (323)965-3998.Ask for the duty officer.They will not confirm or deny that they are investigating LVEN but they will take all the information you can give them.I have contacted both these agencies.However,I am only one person with limited information.If you have been financially hurt by investing in LVEN this is the only way to get back at them.As you know the stock has resumed trading on the pink sheets.Believe me as far as getting your money back in this stock,forget it.LVEN has no money and no one with a decent reputation is going to invest with them.As far as getting an attorney,forget that too.No attorney is going to file a class action suit against a company with no money. In other words your only course of action is to contact the authorities as I have done.If the LVEN people get away with this they will only lay low for a while before bringing another hair-brained company public again with the same results. |
