YO YO TRUTHSEEKER..I GUESS I WAS RIGHT ON THIS ONE..COME ON, GIMME SOME CREDIT hehe
ASCT says???? LooooooLLLLLLLLLLLLLL
MY POST ON THE 13TH
Message 19105971
WOW..HOW DID THIS HAPPEN????
stocklemon.com
July 16, 2003
Anscott Industries (OTCBB:ASCT)…..Don’t Get Taken to the Cleaners !!!!!
Recent market gains have propped up some battered and bruised portfolios, and investors are slowly returning to the trough. However, as always happens, this is a call for promoters to get busy dusting off old shell deals and looking for the kinds of stories that they can sell to naive bargain hunters and get-rich-quick speculators.
Liquidix Inc. is one such dusty shell. This flash-in-the-pan promotion of 2001, which dissolved within weeks of being touted by a fax promotion letter called "The Wall Street Alert", has remade itself into Anscott Industries (ASCT.OTCBB). Thanks to a renewed fax tout campaign, Anscott has quickly ballooned to a market cap of roughly $200 Million. (based on just under 50 Million shares and a recent $4 price).
It is our opinion that this valuation is ridiculous for a company that as of their last filing has a little more than $10,000 in cash and more importantly
Owes the IRS $463,000 in back payroll taxes.
Attention Anscott Shareholders !!! This is your 4 million-share business consultant.
hcso.tampa.fl.us
qdisp/bn=96019260
In spite of a new project, and a new board of directors, there appears to be several things that Anscott has in common with its predecessor. According to an S-8 filed on May 12, Robert Esposito's Regal Consulting received 4 million shares of ASCT for "Consulting Services"
edgar.sec.gov
/0001144204-03-002272.txt
Where is the 13D?
Esposito owns more than 5%, why has he not filed a 13D?
Yes, this is the same Robert Esposito that rec'd 2.3M shares when this same co. morphed from Learners World into Liquidix in 2001!
edgar.sec.gov
0001046532-01-500209.txt
Wait, they have more in common! Within days of its creation, Liquidix underwent a heavy fax promotion run by a company called Internet Marketing Solutions. They fax-blasted under the name "Wall Street Alert". Turns out that Internet Marketing Solutions was registered by Robert Hainey, an associate of Esposito's. In fact, it is based at Esposito's address:
sunbiz.org
&n2=NAMFWD&n3=0000&n4=N&r1=P01000004620&r2=0000&r3=
N&r4=INTERNETMARKETINGNETWORK&r5=
sunbiz.org
&n2=NAMFWD&n3=0002&n4=N&r1=&r2=&r3=&r4=ANSCOTT&r5=
In fairness to Mr. Esposito he has not been charged by the SEC in the past with any securities violations. However, along with running Internet Marketing Solutions, he is known to run pornography websites such as Connexxxions.com (link not included due to extreme nature of content).
sunbiz.org
&n2=OFFFWD&n3=0003&n4=P&r1=H40831&r2=&r3=&r4=&r5=&r6
=0003&r7=CARAPELLALEONORAJ&r8=P
This time around, ASCT is being promoted by a fax tout similarly called "The Wall Street Bulletin". The format of the fax is virtually identical to the earlier Wall Street Alert, only this time the disclaimer is virtually empty. Good chance this is the same modus operandus, Esposito and friends hold the bulk of free trading shares, and unload their stock into the buyers created by the fax touts.
I suppose this could all be co-incidence. But one thing can be said, with no doubt: no honest businessman would knowingly allow his company to be part of this dirty shell. After all, the predecessor company was the subject of a stock manipulation scheme that involved none other than thrice convicted securities violator Alan Z. Wolfson!
sec.gov
We're not aware of any current involvement of Mr. Wolfson. However, Wolfsons' nephew, lawyer Richard Surber, also rec'd shares in Liquidix, according to filings.
What exactly is Anscott Industries? It is a small company that manufactures and sells specialty chemicals, cleaning agents, odor eliminators and other treatments and processes used in the laundry and drycleaning industries. According to recent filings, the company has sales of under $2.5M/year and has been losing
roughly $1M/year for the past 2 years. So why does this tiny company with shareholders equity of $51,000 and a working capital deficit of $300K currently have a market cap of $200 Million?
Could it really be because of the revolutionary new product announcement of June 5th?
biz.yahoo.com
Stocklemon believes it is because of a good stock promotion
Who else is involved?
In a brief press release issued on Apr. 28, ASCT announced a new board of directors, but more importantly, a new contact for shareholder relations, a Mr.
Frank Zingara.
Frank Zingara:
pinksheets.com
C04%5C28%5C21226310.html%26clientid%3D168%26provider%3DBUSINESS_WIRE&symbol=ASCT
Initial searches to find out more about Mr. Zingara were a dead end, until we did further searches on the telephone number provided. This led to a tiny building in Glenwood Landing, New York, which houses several businesses run by a Frank Zangara. Ah, the old spell-the-name wrong trick!
He is also associated with BHI Group, and Glenwood Marketing Association, as shown in this filing:
edgar.sec.gov
02000237/0001090002-02-000237.txt
There is also a stock tout firm in this very busy little building:
stocktraderspress.com
Zingara was involved in an insider trading scam where brokers paid off an employee of Business Week magazine in order to trade on non public information that was about to be printed in the "Inside Wall Street" Column.
You can read all about it here:
sec.gov
And here are a few more stories about Mr. Zangara's escapades:
nyse.com
nasdr.com
search.nasdr.com VgwKey=http%3A%2F%2Fwww%2Enasdr%2Ecom%
2Fpdf%2Dtext%2F0110dis%2Etxt&DocOffset=2&Docs Found=6&QueryZip=zangara%0D%0A&SourceQueryZ
ip=%3CYESNO%3E%28%5FNONTXT%2C%5FTXT% 29&Collection=NASDR&SortField=Score&SortOrder=
Desc&ScoreThreshold=0&SearchUrl=http%3A%2F%2 Fsearch%2Enasdr%2Ecom%2Fs97is%2Evts%3Faction%
3DFilterSearch%26QueryZip%3Dzangara%250D%250A% 26SourceQueryZip%3D%253CYESNO%253E%2528%25
5FNONTXT%252C%255FTXT%2529%26Filter%3Dnas dr%252Dfilter%252Ehts%26ResultTemplate%3Drslp%252
Dframe%252Ehts%26SourceQueryText%3D%253CYESNO %253E%2528%255FNONTXT%252C%255FTXT%2529
%26QueryText%3Dzangara%250D%250A%26Collection% 3DNASDR%26SortField%3DScore%26SortOrder%3DDesc
%26ScoreThreshold%3D0%26ResultStart%3D1%26Result Count%3D25&#hlhl0
search.nasdr.com
Fspring01%5Fdis%2Ehtm&DocOffset=3&DocsFound=6&QueryZip=zangara%0D%0A&SourceQueryZip=%3CYESN
O%3E%28%5FNONTXT%2C%5FTXT%29&Collection=NASDR&SortField=Score&SortOrder=Desc&ScoreThreshold
=0&SearchUrl=http%3A%2F%2Fsearch%2Enasdr%2Ecom%2Fs97is%2Evts%3Faction%3DFilterSearch%26QueryZip%
3Dzangara%250D%250A%26SourceQueryZip%3D%253CYESNO%253E%2528%255FNONTXT%252C%255FTXT%
2529%26Filter%3Dnasdr%252Dfilter%252Ehts%26ResultTemplate%3Drslp%252Dframe%252Ehts%26SourceQueryText%
3D%253CYESNO%253E%2528%255FNONTXT%252C%255FTXT%2529%26QueryText%3Dzangara%250D%250A%
26Collection%3DNASDR%26SortField%3DScore%26SortOrder%3DDesc%26ScoreThreshold%3D0%26ResultStart%3D1
%26ResultCount%3D25&#hlhl0
Well, it's no wonder that Mr. Zangara has been removed from more recent press releases. But there's more. On May 28, the company issued a press release touting a deal with its new customer, Digital Online:
biz.yahoo.com
This one wins the award for most far fetched press release that this reader has ever seen! What on earth is a technology company doing buying products from a specialty chemical company? Is there some other kind
of link? The answer is yes.
Zangara's own Glenwood Marketing Association has the same address
and phone number as ASCT customer Digital Online! That is some co-incidence!
lidesktopnews.com
Back to the company for a minute....the press release says Homeland Security...hmmm Homeland Security???? Say it ain't so! ASCT is a Homeland Security play as a result of its’ new fire retardant product?? As far fetched as this notion is to begin with, we've done some reading, and find absolutely not one mention of ASCT's hot new product Xpel Fabric Protector except in the press release announcing the hot new product. There is a similarly described product on the website of its operating subsidiary:
caledchemical.com
It does not appear to be anything new or revolutionary. The web site has not been updated since February 2003, so why the press release on June 5th announcing the launch of this new Xpel Fabric Protector? It appears to be nothing more than a renaming of its old product called Flame Fighter:
caledchemical.com
There are plenty of companies that are advertising very similar products:
google.com
UTF-8&oe=UTF-8&q=%22water%2Dbased+flame+retardant%22
Conclusion
With all respect to Mr. Jack Belluscio, the President, CFO and Chairman of ASCT, who in fact may be a veritable expert in his field, and who rec'd 44 MILLION shares of Anscott in the reverse merger (we wish Mr. Belluscio all the luck in the world in realizing the $160 Million of current value in his shares once the trading restrictions are lifted), it is our belief that the co. has no valuable new product, and that ASCT is nothing more than a stock promotion that will collapse just like its predecessors. So be careful, and Don’t Be Taken to the Cleaners.
Disclaimer:
Stocklemon.com does not guarantee in any way that it is providing all of the information that may be available. We recommend that you do your own due diligence before buying or selling any security. At any times the principals of Stocklemon.com might hold a position in any of the securities profiled on the site. Stocklemon.com will not report when a position is initiated or covered. Each investor must make that decision based on his/her judgment of the market. |
