PSPP Holdings, Inc. Appoints New Board of Directors, Reinstalls Kyle Gotshalk as President
2007-10-05 13:31 ET - News Release
LOS ANGELES, CA -- (MARKET WIRE) -- 10/05/07
PSPP Holdings, Inc. (OTCBB: PSPJ), a financial services company that is establishing an international banking network to facilitate electronic remittance, mobile banking, e-benefits, and stored value and pre paid card solutions, announced today that the company has formed a new Board of Directors (BOD) and has reinstalled Kyle Gotshalk as President.
The company stated that in an effort to move the company's business forward, BOD actions included the following measures:
1. Removed Larry Wilcox as Chairman and CEO of PSPP Holdings, Inc. and also removed Mr. Wilcox as an officer of Esafe, the company's wholly owned subsidiary.
2. Reinstated Kyle Gotshalk as President.
3. Reinstated Cherish Adams as Secretary and Treasurer of the Corporation.
4. Frank Tavella was named as the company's new Executive Vice-President.
PSPP Holdings' President Kyle Gotshalk stated, "We felt it was imperative that actions be taken to help circumvent the cause of the recent collapse in the price of the company's stock. We feel we have now installed some extremely adept talent to move PSPP forward and will add additional personnel as time progresses to help assure the success of the company. When I resigned as President of PSPP to take the helm of another business, PSPJ's stock price was above 60 cents per share. It is now under 5 cents per share. Esafe, under the direction of Larry Wilcox, has received over one million dollars in funding but has continued to fail to meet promised benchmarks. It gets worse too. Wilcox has failed to produce records of the expense and payroll accounts of Esafe. We did not feel shareholders should tolerate such behavior for one day longer."
Gotshalk added, "UCHUB, a majority shareholder, refuses to verify the 22,890,000 restricted shares which should still be in its possession. Our management now suspects that some of these shares have been used for hypothecation and funding purposes. In addition, the affiliate accusations that 'consultant' David Osterower and former CEO Larry Wilcox have made against me and the other founders of the company have been referred to our Legal Counsel. The affiliate shares that have been referred to by Osterower and Wilcox, under false accusations, have come nowhere near allowed sales under Rule 144, at any time. The company will issue additional press releases regarding these issues in the future."
About PSPP Holdings, Inc:
PSPP Holdings provides the transaction-based business of electronic payments and related digital banking in two continents today: North America and Africa, utilizing MasterCard International and Visa, as well as local banks which enable settlement of funds in local currency. With strategic relationships in place and with its own proprietary processing software code, PSPP Holdings is committed to delivering speed to market, continuous innovation, significant savings, convenience, and benefits to its customers, cardholders, employees, and investors.
PSPP Holdings, Inc. is headquartered in Los Angeles, California and is a financial services company that is establishing an international banking network to facilitate electronic remittance, mobile banking, e-benefits, and stored value and pre paid card solutions.
Posted by jordanm on :
From today's 8K.
DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS
On October 3, 2007 a special meeting of the majority stockholders of PSPP Holdings, Inc. was held pursuant to the Company’s By-Laws, Article 3, Sec 3,4,9. Consent pursuant to the Company’s By-Laws, Article 7, Sec 1,2- Waiver of Notice. Present at the meeting were the Officers of the Corporation, Kyle Gotshalk as President and Director, Cherish Adams as Sec/Treasurer; all of the Directors of the Company: Kyle Gotshalk, Director, Frank Tavella, Executive Vice President and Director, Ryan Decker, Director, and Thom Archbold, Director. Also present at the meeting were the majority shareholders of the Company represented by 42,570,000 votes. On that date there were Issued and outstanding 64,499,364shares.
On October 3, 2007, the Directors and stockholders of the corporation gave notice to the company of the special meeting held on September 16, 2007.
At that special meeting on September 16, 2007 (held pursuant to the Company’s By-Laws, Article 3, Sec 3,4,9 and Consent pursuant to the Company’s By-Laws, Article 7, Sec 1,2) -by a majority vote of the shareholders of the corporation represented by 42,570,000 shares of the corporation out of 64,499,364 shares issued and outstanding; the shareholders duly noted that according to the Company’s filings with the Secretary of State of Nevada that Kyle Gotshalk was the President of the Company and director and Cherish Adams was the Secretary and Treasurer. To clear up any and all confusion as to who might or might not be officers and directors of the company it was voted that Kyle Gotshalk be President and Director of the corporation and Cherish Adams as Sec/Treasurer; and the following as Directors of the Company: Kyle Gotshalk, Director, Frank Tavella, Executive Vice President and Director, Ryan Decker, Director, and Thom Archbold, Director.
Also on Sept. 16, 2007 the Company’s wholly owned subsidiary, Esafe, Inc.’s Shareholders appointed Kyle Gotshalk as President, Cherish Adams as Sec/Treasurer and Director, and Frank Tavella as Vice President and Director.
Posted by jordanm on :
Running into the close. Lots of buying Would be good if it closes at HOD. Looking good for next week. Can it make it back to where it was in Sept:) 61 cents Posted by jordanm on :
0.059
Posted by jordanm on :
running into the close....HOD...gapper for Monday...
Posted by Homersbud on :
Damn!!!! Came across this at 05 but I'm out of money or else I would have jumped in!
Will gap for sure on Monday! Nice man
Posted by emptycontents on :
PSPJ gonna go buck wild look for a Short squeeze charts resistance at .07 and .14 then we may see the stock shoot towards the 50 day MA all the way at .38!!!!!!!!!!!!!!!!
Posted by emptycontents on :
PSPJ stock of the week you heard it here first!
Posted by T e x on :
we also have thread on Hot Stocks, with various opinions and a coupla charts...
A chart I found now this looks beautiful!
Posted by T e x on :
boy howdy...if this chart proves up on the annotations, I'll have to tweak my system...
nice find, for counterpoint
Posted by emptycontents on :
NP I was impressed also, my little alphatrade screenshots suck! LOL I may have to get a subscription to freaking stockcharts!
Posted by T e x on :
yup. they're the best
Posted by emptycontents on :
They let you do the most with the charts, alphatrade is quick fast and hurry for me! Better for trading not ask good for posting!
Posted by emptycontents on :
Tommorow is going to be very very interesting!
Posted by jordanm on :
Good dd guys. The chart and the discussion are helpful. One more point you may want to consider is the L2. VNDM was the MM selling all the way down on the ASK. Late Friday evening VNDM was on the BID. NITE was holding down the ASK at 0.05, 0.051 and at 0.06. But constant buying and no selling made NITE back off. Rumors of the squeeze because of the restricted stock on ihub. O/S is only 80 million and there does not seem to be any dilution. Float is very low. Monday's trading will determine if its a multi-day short squeeze.
Posted by lukin4winners on :
Should be a very interesting week for PSPJ and don't forget the forward looking event friday 1:10 dividend to keep it going. PSPJ now #3 on IHUB both for best boards and most frequently watched! Hope it has a slow progressive daily increase in pps but with the interest here looks like it might gap and retrace. It will be matching of wits between mm's and traders unless there really is a short squeeze then the strategy changes with the advantage for traders.
Posted by emptycontents on :
PSPJ on its way!
Posted by emptycontents on :
Come on baby fill that Gap I am looking for shares at .065!!!!!!!!!!!!!
Posted by emptycontents on :
Back to .066 x .07 I still have not gotten my .065 fill, come on pig I may have to hit the .07's
Posted by emptycontents on :
Crap .071 x .072 this is resistance, past that and boy howdy we got a double from here!
Posted by emptycontents on :
HOD looking good Lets blast em!
Posted by emptycontents on :
Nice about to hit .08!!!!!
.077 x .079
Posted by emptycontents on :
.082!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
.084!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Posted by emptycontents on :
Two MM's left at .084
Asks are flying out of there!
Posted by emptycontents on :
Monster buys are rolling through, come on baby! Get past .084! Looking good! Another 37%
Posted by emptycontents on :
.084 x .085!
Posted by emptycontents on :
.09!!!!!!!!!!!
Posted by emptycontents on :
.095
Posted by emptycontents on :
Looking good, first hour up 47%
Posted by emptycontents on :
.088 x .09 Looking for .10! One left at .09 no two left
Posted by emptycontents on :
.09's about to fall!
Posted by emptycontents on :
.09 x .094 Heating up
Posted by emptycontents on :
Bidders coming in about to blow past .0939 then .094!
Posted by emptycontents on :
Third Shake.
Posted by emptycontents on :
Couple of bid whackers, get em out of the system.
Posted by emptycontents on :
.08 bottom here comes the next leg.
Posted by jordanm on :
Its just begun. Going to be interesting. NITE wants to hold it down on the ASK. Been at it for the last few days. SHSH is constantly on the BID. Thin ASK. VNDM has not yet made their appearance. It will go up when it is ready. But the divi end of the week is a good milestone to remember also.
Posted by emptycontents on :
Here comes VNDM on the bid, they are the ones that are short!
Posted by emptycontents on :
Getting some life back into it! Looking good bidders coming in front of VNDM!!!!!!
Posted by jordanm on :
Start your engines Posted by emptycontents on :
out for the time being, some at .08 and more at .07 looking to bid it below the gap.
Posted by tmanfromtexas on :
Still watchin. lol. TMAN...
Posted by emptycontents on :
Got close but no more shares for me yet.
Posted by Homersbud on :
Hmmm, what happened to this? Was looking so good this morning.
Posted by emptycontents on :
It still closed pretty well and never went red for the day.
Posted by lukin4winners on :
PSPJ still looks good and poised to break .07 this am. The resistance levels of .094 and .10 then .12 which is the 20 sma would be in sight. Also, a pr from the new ceo Kyle Gotshalk to update and instill some legitamacy concerning the 8-k from last friday would really get this one back on target to .169 and above. The previous CEO was in power when the stock was trading in the .60s and dropped all the way down to .05 and lower. Time for a rebound. Also the 1:10 dividend for holders of 10/12 (this friday) is still a key forward looking event.
Posted by tmanfromtexas on :
I was quite confused as to who was who and who was doing what. This PR kinda explains the next episode of "How the Stock Turns" lol. TMAN...
Press Release Source: PSPP Holdings, Inc.
PSPP Holdings, Inc. Warns Shareholders of Disinformation Campaign Conducted by Previous Management -- Company Also Clarifies Talking Points and Relationships Tuesday October 9, 9:08 am ET
LOS ANGELES, CA--(MARKET WIRE)--Oct 9, 2007 -- PSPP Holdings, Inc. (OTC BB:PSPJ.OB - News); warned shareholders today of a campaign of disinformation which is apparently being conducted by the previous management and/or the previous investor relations contractors for the company. ADVERTISEMENT
It was discovered that hackers had closed off access of PSPP Holdings' CEO Kyle Gotshalk to his company email inbox. It was further learned that any shareholder inquiries directed to Mr. Gotshalk were being answered with a copy of a counterfeit press release which attacked current PSPP Holdings' management with false and erroneous statements.
The company believes that false information was distributed. PSPP Holdings stated that shareholders are to disregard any information distributed and wishes to assure all concerned parties that it is working diligently with company counsel, the Securities and Exchange Commission, and Federal Law Enforcement officials to put an end to the current campaign against the company and its shareholders.
PSPP also stated it wished to clarify its relationships with one Leonard Gotshalk, Piedmont Properties, and Kyle Gotshalk through the following statements.
1. Leonard Gotshalk is not now nor has he ever been an officer of PSPP Holdings, Inc. Mr. Gotshalk is an officer of Piedmont Properties which has invested in PSPP Holdings and in its subsidiary eSafe.
2. Piedmont Properties is owed substantial sums of money by eSafe which is disclosed in the financial filings of PSPP Holdings.
3. Kyle Gotshalk, the CEO of PSPP Holdings, Inc. reassumed the helm at PSPP in an effort to repair the recent damage to the company's stock price and to attempt to insure that all of the company's shareholders are protected as the company moves from the developmental stage to a revenue producing model. Previous management, led by Mr. Larry Wilcox, had presided over a plunge in the company's stock price from approximately 65 cents per share to fewer than 5 cents per share in a very short period of time. Current CEO Kyle Gotshalk feels this was totally unacceptable.
4. Kyle Gotshalk has never received any monies from the company, even though he was promised by the previous management he would receive the three years of back wages he was due when he resigned in August. Mr. Gotshalk reassumed his position as President of PSPP on October 4th.
PSPP Holdings' President Kyle Gotshalk stated, "Larry Wilcox burned through more than fourteen million dollars at UCHUB while producing little to no revenue. It seems he felt he could bring the same game here because over one million dollars was invested into PSPP's eSafe over the past one year and Mr. Wilcox has produced no financial records to prove where the money has been spent. In the company's 15c-211, Wilcox had promised that eSafe would be generating substantial revenues within ninety days. The result was a mere five thousand dollars in revenues. This was wholly inadequate and the new management team and Board of Directors felt it was essential that a change at the top had to be made."
Gotshalk continued, "False accusations have been made against me and my family. We built this company from a shell over a three year period. and we feel those accusations are being used as a diversionary tactic to hide the fact that Wilcox, Ostrower and UCHUB have failed to prove ownership of the nearly twenty three million restricted shares of PSPP which should still be in their possession. David Ostrower has been at the forefront of the campaign against me and if anyone would like to know the value of this man's word all that need be done is to check the federal court records in the man's current bankruptcy proceedings where it will be found that he claims he has no job."
Concerning the rumors circulating that Kyle Gotshalk has been subjected to physical threats from Wilcox and Ostrower, Gotshalk said, "It is true that physical harm threats have been made against me and my family. We have the letters of proof and will disclose all of this in its specific nature to the public when the time is right. At the moment, the issue is being addressed by the proper law enforcement officials. Please remember that these people will tell you anything to get what they want, when they want it. They made a very big mistake in assuming I would walk away while they destroyed this company, however. We are here to make sure this works out the way it was intended. Neither threats, nor campaigns of disinformation will serve to deter us from this task."
About PSPP Holdings, Inc.:
PSPP Holdings provides the transaction-based business of electronic payments and related digital banking in two continents today: North America and Africa, utilizing MasterCard International and Visa, as well as local banks which enable settlement of funds in local currency. With strategic relationships in place and with its own proprietary processing software code, PSPP Holdings is committed to delivering speed to market, continuous innovation, significant savings, convenience, and benefits to its customers, cardholders, employees, and investors.
PSPP Holdings, Inc. is headquartered in Los Angeles, California and is a financial services company that is establishing an international banking network to facilitate electronic remittance, Mobile Banking, e-benefits, and stored value and pre paid card solutions.
Safe Harbor Statement
This press release includes forward-looking statements about the Company's estimated revenue and earnings within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this release, including statements regarding the Company's future financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. We have based these forward-looking statements largely on current expectations and projections about future events and financial trends that we believe may affect the Company's financial condition, results of operations, business strategy and financial needs. Risks and uncertainties include the ability of the Company to attract customers to its website and offer attractive products; to maintain its website, electronic data processing systems, and systems hardware; to forecast accurately net revenue and plan for expenses; to protect our intellectual property rights; and potential litigation and government enforcement actions that may result from our prior securities offerings. Please refer to PSPP's reports and filings with the Securities and Exchange Commission for a further discussion of these risks and uncertainties. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. PSPP undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made or to reflect the occurrence of unanticipated events.
Contact: Contact: Kyle Gotshalk 416-996-1789
-------------------------------------------------------------------------------- Source: PSPP Holdings, Inc.
Posted by emptycontents on :
PSPP Holdings, Inc. Warns Shareholders of Disinformation Campaign Conducted by Previous Management -- Company Also Clarifies Talking Points and Relationships Oct 9, 2007 9:08:00 AM LOS ANGELES, CA -- (MARKET WIRE) -- 10/09/07 -- PSPP Holdings, Inc. (OTCBB: PSPJ); warned shareholders today of a campaign of disinformation which is apparently being conducted by the previous management and/or the previous investor relations contractors for the company.
It was discovered that hackers had closed off access of PSPP Holdings' CEO Kyle Gotshalk to his company email inbox. It was further learned that any shareholder inquiries directed to Mr. Gotshalk were being answered with a copy of a counterfeit press release which attacked current PSPP Holdings' management with false and erroneous statements.
The company believes that false information was distributed. PSPP Holdings stated that shareholders are to disregard any information distributed and wishes to assure all concerned parties that it is working diligently with company counsel, the Securities and Exchange Commission, and Federal Law Enforcement officials to put an end to the current campaign against the company and its shareholders.
PSPP also stated it wished to clarify its relationships with one Leonard Gotshalk, Piedmont Properties, and Kyle Gotshalk through the following statements.
1. Leonard Gotshalk is not now nor has he ever been an officer of PSPP Holdings, Inc. Mr. Gotshalk is an officer of Piedmont Properties which has invested in PSPP Holdings and in its subsidiary eSafe.
2. Piedmont Properties is owed substantial sums of money by eSafe which is disclosed in the financial filings of PSPP Holdings.
3. Kyle Gotshalk, the CEO of PSPP Holdings, Inc. reassumed the helm at PSPP in an effort to repair the recent damage to the company's stock price and to attempt to insure that all of the company's shareholders are protected as the company moves from the developmental stage to a revenue producing model. Previous management, led by Mr. Larry Wilcox, had presided over a plunge in the company's stock price from approximately 65 cents per share to fewer than 5 cents per share in a very short period of time. Current CEO Kyle Gotshalk feels this was totally unacceptable.
4. Kyle Gotshalk has never received any monies from the company, even though he was promised by the previous management he would receive the three years of back wages he was due when he resigned in August. Mr. Gotshalk reassumed his position as President of PSPP on October 4th.
PSPP Holdings' President Kyle Gotshalk stated, "Larry Wilcox burned through more than fourteen million dollars at UCHUB while producing little to no revenue. It seems he felt he could bring the same game here because over one million dollars was invested into PSPP's eSafe over the past one year and Mr. Wilcox has produced no financial records to prove where the money has been spent. In the company's 15c-211, Wilcox had promised that eSafe would be generating substantial revenues within ninety days. The result was a mere five thousand dollars in revenues. This was wholly inadequate and the new management team and Board of Directors felt it was essential that a change at the top had to be made."
Gotshalk continued, "False accusations have been made against me and my family. We built this company from a shell over a three year period. and we feel those accusations are being used as a diversionary tactic to hide the fact that Wilcox, Ostrower and UCHUB have failed to prove ownership of the nearly twenty three million restricted shares of PSPP which should still be in their possession. David Ostrower has been at the forefront of the campaign against me and if anyone would like to know the value of this man's word all that need be done is to check the federal court records in the man's current bankruptcy proceedings where it will be found that he claims he has no job."
Concerning the rumors circulating that Kyle Gotshalk has been subjected to physical threats from Wilcox and Ostrower, Gotshalk said, "It is true that physical harm threats have been made against me and my family. We have the letters of proof and will disclose all of this in its specific nature to the public when the time is right. At the moment, the issue is being addressed by the proper law enforcement officials. Please remember that these people will tell you anything to get what they want, when they want it. They made a very big mistake in assuming I would walk away while they destroyed this company, however. We are here to make sure this works out the way it was intended. Neither threats, nor campaigns of disinformation will serve to deter us from this task."
About PSPP Holdings, Inc.:
PSPP Holdings provides the transaction-based business of electronic payments and related digital banking in two continents today: North America and Africa, utilizing MasterCard International and Visa, as well as local banks which enable settlement of funds in local currency. With strategic relationships in place and with its own proprietary processing software code, PSPP Holdings is committed to delivering speed to market, continuous innovation, significant savings, convenience, and benefits to its customers, cardholders, employees, and investors.
PSPP Holdings, Inc. is headquartered in Los Angeles, California and is a financial services company that is establishing an international banking network to facilitate electronic remittance, Mobile Banking, e-benefits, and stored value and pre paid card solutions.
Safe Harbor Statement
This press release includes forward-looking statements about the Company's estimated revenue and earnings within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this release, including statements regarding the Company's future financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. We have based these forward-looking statements largely on current expectations and projections about future events and financial trends that we believe may affect the Company's financial condition, results of operations, business strategy and financial needs. Risks and uncertainties include the ability of the Company to attract customers to its website and offer attractive products; to maintain its website, electronic data processing systems, and systems hardware; to forecast accurately net revenue and plan for expenses; to protect our intellectual property rights; and potential litigation and government enforcement actions that may result from our prior securities offerings. Please refer to PSPP's reports and filings with the Securities and Exchange Commission for a further discussion of these risks and uncertainties. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. PSPP undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made or to reflect the occurrence of unanticipated events.
Contact: Kyle Gotshalk 416-996-1789
Posted by emptycontents on :
.069 x .07 filling the gap, come on puppy dog.
Posted by emptycontents on :
Filled the gap now it is showing strong bids at or above .06
Posted by emptycontents on :
Today, 03:28 PM #556 billjohnson HSM Addict
Join Date: Oct 2005 Location: Tejas Posts: 4,708 No that is just market makers moving in and out of orders, yesterday was we found out the old IR was circulating a flase email while at the same time hitting the stock, they are getting desperate, Oct. 15th and all these pigs are going to cry. PSPJ is showing up on Red/Sho that is the date they will be forced to cover, Wilcox and Co have not come up with the 23 million shares my guess is they were shorting against that position and that is why there are so many Failure to Delivers on this. Look out above! __________________ "Those who go without for awhile can have anything they want down the line."
So far support is holding well. Nice day of consolidation without dipping below key support area of .06
Posted by tmanfromtexas on :
OOOOOOOOOOOOOOOHHHHHWWWWWWWEEEEEEEEEEEEEEE!!!! We got us a sure 'nuff goat roping going on here. This was PR'ed this afternoon by Wilcox and associates. Funny thing is, it was not put out by Marketwire (usual PR Co.) it doesnt have any contact info and on a side note the Nevada SOS shows Kyle as a director and CEO. I wonder whats the next episode will be on the How the stock turns show... TMAN...
Press Release Source: PSPP Holdings, Inc.
PSPP Holdings Reports on Illegal Actions of Leonard Gotshalk and Affiliates Tuesday October 9, 4:04 pm ET
LOS ANGELES, Oct. 9 /PRNewswire-FirstCall/ -- (OTC Bulletin Board: PSPJ - News) -- This past Friday morning, Leonard Gotshalk, his son and former CEO of the Company, Kyle Gotshalk, and his daughter and former CFO of the Company, Cherish Adams, fraudulently filed a Current Report on Form 8-K with the Securities and Exchange Commission, purportedly in the name of PSPP Holdings, Inc. (the "Company"), stating, among other things, that there had been a shareholder vote on September 16, 2007, to remove the current management of the Company and replace it with their nominees. They then changed the SEC Edgar pass codes for the Company to prevent the Company from filing a corrective 8-K. As a result, the company and its counsel have contacted the SEC's enforcement division. ADVERTISEMENT
This purported shareholder coup was first disclosed to the Company, its counsel and its transfer agent on October 3, 2007, even though Mr. Gotshalk purports that it was taken on Sunday night, September 16, 2007.
Investors should be advised that the actions allegedly taken by Mr. Gotshalk and his affiliates to change the Company's management are null and void.
The actions reported in the fraudulent 8-K, and related press release, required Mr. Gotshalk to have first filed an Information Statement with the SEC and to have distributed that statement to the Company's shareholders 20 calendar days prior to taking the action. The rules and regulations promulgated under the Securities Exchange Act of 1934 are specifically designed to protect against, and provide prior notice of, these kinds of shareholder ambush actions. We also note that Mr. Gotshalk failed to file any reports on Schedule 13D to disclose his intentions or actions, as also required by law.
The Company further disputes that the action purportedly taken by Mr. Gotshalk has any validity under Nevada law. Mr. Gotshalk does not hold a majority of the Company's voting power. The Company's preferred shares, which he claims to have voted to remove Mr. Wilcox, were the consideration given to Mr. Wilcox, not Mr. Gotshalk, in connection with UC HUB Group's, sale of eSafe, Inc. to the Company in 2006.
Leonard William Gotshalk has a history of criminal activity. In December of 2001, Leonard Gotshalk was arrested on multiple felony charges of aggravated theft and racketeering in the State of Oregon (Case # 010623FE). In December 1994 the U.S. Securities and Exchange Commission filed a complaint in the United States District Court for the District of Columbia (Case Number 94CV02633) against "Astro Enterprises, Inc.," et. al., including Mr. Gotshalk. The basis for such complaint was the dissemination to the public from approximately March 1989 through May 1990, of false and misleading information concerning the business of such entity.
The Company believes that the sole reason for this attempted coup is to thwart its investigation of Mr. Gotshalk and his affiliates' on-going sale and/or hypothecation of millions of shares of restricted common stock of the Company without registration under, and in violation of, the Securities Act of 1933. The Company also notes that the allegations in Mr. Gotshalk's press releases are totally baseless and without merit whatsoever.
About PSPP Holdings, Inc.
PSPP Holdings, Inc., headquartered in Las Vegas, Nevada, is a financial services company that is establishing an international banking network to facilitate electronic remittance, Mobile Banking, e-benefits, and stored value and pre-paid card solutions.
Safe Harbor Statement:
Under the Private securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements, including all statements regarding paying a stock dividend, and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
-------------------------------------------------------------------------------- Source: PSPP Holdings, Inc.
Posted by emptycontents on :
For some reason Yahoo pulled that story. I guess the real CEO complained, insane. With Kyle at the helm up we go, with toxic larry wilcox sub penny it be.
Posted by wallymac on :
If most investors/traders are like me and have learned from experience, they will stay far far away.
It is never a good sign to see dueling factions fighting for control of a stock.
If the SEC ends up stepping in, they will suspend the stock while they investigate which will mean a trip to the gray sheets. From my research. less than 1% of stocks suspended ever make it back to the OTCBB or pink sheets.
It's just not worth the risk.
Better to wait on the sidelines until the smoke clears.
GLTA Wally
Posted by tmanfromtexas on :
That is one of the few times I have ever seen that happen. I guess we can kinda figure out who the guy is with the big cojones. Hopefully this will help the pps and give some folks a little more confidence. I know mine is not as high as I like it to be, but this retraction helps. TMAN...
Posted by tmanfromtexas on :
Wally, youre absolutely correct. I think this one will not be one for the faint of heart OR for someone new to this. hell I dont think its good for me lol. but I am already in so I might as well let it ride. TMAN...
Posted by tmanfromtexas on :
The other thing here that is interesting is the 22mm shares that are 144 restricted and may have been issued as free trading. I dont know if that is the case and I am not one to believe in "short squeezes" except in rare circumstances. This is one of those. My reason is simple. According to the otcbb monthly report NITE sold 12.4 mm shares in September and only 1.8 the month before. VNDM 1.3mm shares NONE the month before. SBSH 4.3mm shares, 356k the month before, ETRD 1.8mm 83k the month before, and lastly VFIN 1.4mm and 5k the month before. That is almost 20mm shares sold in September. That represents approximately 66% of all shares sold FOR THE YEAR!! There might still be some room for a squeeze to occur if indeed the shares were sold into the market. Interesting times indeed. TMAN...
Posted by emptycontents on :
Another fact is PSPJ is showing up on Reg/Sho which means shares are STD or Failure to Delivers
Oce the rule change comes into affect I think they will be forced to cover by their brokers, margain calls all around.
Also A/D is showing about 22 million shares have been dumped on the market. HMM sounds like the UCHB position.
Posted by jordanm on :
tman...the story gets interesting and murkier every day. certainly not for the faint hearted. But it is holding well. Take your profits and let the free shares ride.
Posted by wallymac on :
quote:Originally posted by emptycontents: Another fact is PSPJ is showing up on Reg/Sho which means shares are STD or Failure to Delivers
Oce the rule change comes into affect I think they will be forced to cover by their brokers, margain calls all around.
Also A/D is showing about 22 million shares have been dumped on the market. HMM sounds like the UCHB position.
What a lot of people don't understand about the new reg that takes effect on the 15th is that the stock will have to be on the SHO list for 13 consecutive days and then they will have 35 trading days to cover. If during the 35 day period it falls off the SHO list it starts all over again. Nothing like loopholes.
Not sure how the new reg will really affect penny stocks but I wouldn't count on all out covering happening. Again waiting till the smoke clears might be the best approach. You can bet that a bunch of scammers will take advantage and pump the heck out of their stocks while they cash in. Just make sure you're out before they are. Not just talking about this stock but all pennies who might publicize a short squeeze due to the new REG. Trade smart and live to trade another day.
GLTA Wally
Posted by emptycontents on :
PSPJ has been on the list for awhile, they did not publicize it we just came to that conclusion, but what you are saying my friend is the truth, keep us all on level ground, great post!
Posted by tmanfromtexas on :
Thanks wallymac for the info on the reg sho debacle. It is really a useless tool imo but I am sure it will make some folks a little cash on the heels of others. I for one believe that with the right information here, from the legitimate officers of the company, we could see some positive movement. Back to .60, would be a big stretch, but a double may not be out of the question. Will be watching for sure. TMAN...
Posted by emptycontents on :
Nice rebound picked up more in the .05's
Posted by emptycontents on :
.06 wall coming down.
Posted by emptycontents on :
The sky is falling, I am wanting stock down low, another run could commence, alot of traders are watching this. So far it has been good to us.
Posted by lukin4winners on :
Surprisingly strong this morning..maybe there are those who are looking for the 1:10 divy for tomorrow for holders of 10/12
Posted by emptycontents on :
Nice close to the day.
Posted by tmanfromtexas on :
up to .065. TMAN...
Posted by emptycontents on :
.075 ask
Posted by Tom123456 on :
could be today's runner
add on watch. IMO
Posted by jordanm on :
Agree. Today is the record date for the stock divy. Jiggly. Waiting for a PR, I guess. Then the fun starts.
Posted by emptycontents on :
Stalks82 HSM Regular
Join Date: Jan 2006 Posts: 356 I would expect we might get an update about the dividend today? I don't see it as being registered with the OTCBB a this point. So it seems it might be delayed again or canceled?
However, I am not sure if the dividend would be a good thing right now given the current share issues... It also seems that this dividend might have been initiated under previous management?
Anyone have any thoughts on this?
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Today, 04:36 PM #659 Mr. Chang HSM Newbie
Join Date: Oct 2007 Posts: 2 I'm a newbie and I was wondering if I still have to fill out the form to receive the dividend. I ask because the form is on the website and it is down but the PR about the date change made it sound like it would be distributed automatically. Thanks
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Today, 04:37 PM #660 fixedrate1914 HSM Newbie
Join Date: Sep 2007 Posts: 7 I was thinking the same thing about the dividend....I really don't see it happening now. I might be wrong....are you hearing anything about the dividend Bill?
Today, 04:48 PM #661 billjohnson HSM Addict
Join Date: Oct 2005 Location: Tejas Posts: 4,750 A stock dividend always trades with a due-bill up until the pay date, so anyone can buy the stock up until the date of payment to get the dividend, if you sell if before the pay date then you will not get the dividend.
That is the way the stock dividends work.
Cash dividends are different. __________________ "Those who go without for awhile can have anything they want down the line."
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