posted
Lots of well known informed posters here and I'm surprising that this dog keeps surfacing. LSMJ / LeaseSmart is a scam. On the last PR posted (dated April 2006), scroll down to the bottom and check out the contact info, it lists: Elaine Davidson (416) 609-8786 http://www.leasemart.biz
Now if you go to the website it's Lease Mart (NOT) LeaseSmart. I e-mailed and personally spoke with Elaine last May. Below is her e-mail response:
Hello *****,
The company that we are with is called LEASE MART CAPITAL CORP. We are a Canadian company who does not nor never has sold any shares publicly. Unfortunately a company calling itself LEASE SMART has usurped all of our company information and shown it as their own in order to sell shares of their company. We have no idea who they are. We have met with the U.S. Securities commission and they are now aware of the fraud and are trying to locate the perpetrators. I'm sorry but that is all the information I have. Good Luck!
Yours truly,
Elaine Davidson.
Posts: 616 | From: Mid West | Registered: Mar 2006
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quote:Originally posted by Time2drum: Lots of well known informed posters here and I'm surprising that this dog keeps surfacing. LSMJ / LeaseSmart is a scam. On the last PR posted (dated April 2006), scroll down to the bottom and check out the contact info, it lists: Elaine Davidson (416) 609-8786 http://www.leasemart.biz
Now if you go to the website it's Lease Mart (NOT) LeaseSmart. I e-mailed and personally spoke with Elaine last May. Below is her e-mail response:
Hello *****,
The company that we are with is called LEASE MART CAPITAL CORP. We are a Canadian company who does not nor never has sold any shares publicly. Unfortunately a company calling itself LEASE SMART has usurped all of our company information and shown it as their own in order to sell shares of their company. We have no idea who they are. We have met with the U.S. Securities commission and they are now aware of the fraud and are trying to locate the perpetrators. I'm sorry but that is all the information I have. Good Luck!
Yours truly,
Elaine Davidson.
Called them last year and got the same response!!!
posted
let me just a take a break from my pattern of posts here and say WOOOWWWW....this is freakin awsome looking like a HUGE run forming as the 7's are going..mms could be real short
-------------------- please dont trade stocks on my alerts, do your dd first. Posts: 5265 | From: Alberta | Registered: Jan 2006
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posted
A lot of buzz on this, looks to be shorted big time, and the time to pay up is now The other boards are a buzz with this thing. Maybe the next BHUB?
Do your research...
Red
Posts: 723 | From: MotorCity | Registered: Jun 2006
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-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
I got into this one last year in August with few million shares at 0.0001, got pleasant surprise today, sold half at 0.0006, tomorrow will be more interesting, GLTA
Posts: 73 | Registered: Apr 2006
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Once again, we are charting into some very speculative waters, but hey isn't that why a lot of investors trade stocks on Over the Counter and PinkSheets market? The stock that we have been trying to dig up some information on is Lease Smart Inc. (OTC: LSMJ) which is a full service commercial loan company according to their last public release back in April of 2006. Lease Smart stock tripled today on over a billion shares traded, though it is difficult to see why since there has not been any news releases issued since last year. Since there is relatively little information out there ranging from non-existent contact numbers and a lack of a corporate website, we started using a resource that has proved to be reliable in the past. We logged on to the PinkSheet's website to find something... anything. Unfortunately, not much of the information was updated for Lease Smart on the site, but we did discover that the company was formerly known as XXSys Technologies Inc., a developer of composite retrofit systems for infrastructure renewal.
But this is where it gets a little fuzzy. How did XXSys Technologies become Lease Smart? Could a reverse merger have been the cause? There was a symbol and name change back in October of 2005 that was accompanied by a reverse stock split, but there is no other evidence of a corporate change. The most likely scenario for such a move would have been a reverse merger.
Here is what happens in such a transaction; typically, shareholders of a private company gain control of a public shell by merging it with their private company. Then the public shell company issues a substantial majority of its shares and board control to the shareholders of the private company. Since the transaction process is not too complicated, the reverse merger can be accomplished in as little as two weeks, resulting in the private company becoming a public company.
However, we are a little skeptical about if this did legitimately take place considering the events surrounding The BigHub.com Inc. (OTC: BHUB) and because there was never a formal announcement issued by the company. Adding to the suspicion is the fact that the transaction does not go through a review by state and federal regulators.
So we looked to Lease Smart's transfer agent, Select American Transfer Co. to continue our due diligence process and made our first phone call. What we found out is the company has apparently not paid its bills for months, and as a result, the transfer agent has stopped working for the company and has tried to get in contact with corporate officers for weeks but to no avail. The representative declined to give out any additional information, only to add that most of it would likely be outdated.
Yet, XXSys is not a dormant company and is still active according to filings with the state of California so that begs the question why the company would undergo a reverse merger if its operations have not ceased. To get some answers, we spoke to XXSys CEO Dr. Gloria Ma. Naturally, she did not reveal much and would not comment on the situation except to clearly distance herself and her company from Lease Smart. She firmly stated there is no relationship between the two companies.
However, what is interesting is the relationship between The BigHub.com Inc. (OTC: BHUB) and Lease Smart. Both companies, besides sharing the same transfer agent at one point in time, list the same corporate address which just so happens to be a UPS store according to state filings. If you recall from a previous article, we noted that BigHub.com is likely a victim of corporate identity theft.
In 2005, individuals by the name of John Sparrow and Jason Wong registered a corporation using the name The BigHub.com Inc., according to Florida Secretary of State documents. It is not certain at this point, but there is speculation that Sparrow and Wong might have opened an account with Select American Transfer and claimed ownership of the company which would have given them the ability to change the share structure and sell shares on to the open market. Recently, the BigHub.com has traded in excess of half a billion shares on a daily basis.
BigHub.com Interim President Darrell Peterson told Ant & Sons that the company is working diligently to update their corporate information. The company's legal team is being very pro-active and investigating the irregular trading activity that could have occurred as a result of unregistered or illegal shares hitting the open market. Peterson confirmed that there has been no share authorization increase that he is aware of since the last 10-Q SEC filing that indicated there were 50,000,000 shares.
Could the exact same thing be happening with XXSys? The last annual filing with the Securities and Exchange Commission indicated an outstanding share count of just over 14 million shares (before the stock split). If there is more substance to what could turn out be another possible corporate hijacking that has involved millions of unregistered or illegal shares hitting the market, than Lease Smart shares are in for a wild ride. We hope to find out more in the coming days, so stick with Ant & Sons for the latest coverage.
The author does not have a vested interest in Lease Smart Inc. (OTC: LSMJ) nor The BigHub.com Inc. (OTC: BHUB).
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
Good luck to anyone in it, and I wouldn't be surprised if it ran more, but there are a few things here that seperate it from BHUB in a big way.
1) the pinksheets site has not been updated in about 18 months. 2) the authorzied share count is missing. That is the important number. If they had 5 shares outstanding, it doesn't matter if they have 10billion authorized, as they can, and most likely would, dump shares into any run. 3) No one can contact the company. 4) the company is not putting out PRs that they are aware of the situation and are looking into it, as well as working with pinksheets to get their info updated. 5) they were taken off the reg sho list recently, meaning that (supposedly, although I'm somewhat dubious of the list) they no longer have a FTD "problem" 6) the scam issues raised previously in this thread. 7) I am not 100% sure on this, but I think I tried to contact this company as long ago as last summer, when I was looking at companies with low float and low price, and never got a single response.
I'm too busy lately to do much serious DD, but in light of those things, I'm staying away from this one, at least until we get an official update with a share structure.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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I'd prefer to "fail" by missing a ride than "fail" by losing a bunch of money on a play that I saw nothing good about besides "message board buzz." To each his own though.
quote:Originally posted by dallenp89: The only failure here is missing the ride.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Yes I will be the first to admit I am a total noob. So new that this is the first time I have seen these kinds of figures. How do you have that volume and activity without some action? I certainly had no intentions of pumping. It does seem to be a hot subject on other boards. I thought the buzz was just a bonus. Any guidance is appreciated. Even if it's a one hit wonder(shrug). If you time it right doesn't that count as a win?
Sorry for any unjustified excitement in advance;)
-------------------- "There was supposed to be an earth shattering KABOOM!" -Marvin Martian Posts: 21 | From: Newark, OH | Registered: Mar 2007
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Icon 1 posted June 08, 2006 01:13 Profile for Time2drum Send New Private Message Edit/Delete Post Reply With Quote Be Carefull !!!
I e-mailed the contact person from one of their PR's several weeks ago for information and this is the response I received:
Hello ******,
The company that we are with is called LEASE MART CAPITAL CORP. We are a Canadian company who does not nor never has sold any shares publicly. Unfortunately a company calling itself LEASE SMART has usurped all of our company information and shown it as their own in order to sell shares of their company. We have no idea who they are. We have met with the U.S. Securities commission and they are now aware of the fraud and are trying to locate the perpetrators. I'm sorry but that is all the information I have. Good Luck! Posts: 502 | From: Mid West | Registered: Mar 2006 | IP: Logged | Report this post to a Moderator
Posts: 3255 | From: Los Angeles California | Registered: Jan 2006
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posted
that is a incorrect post. LSMJ is not affiliated with the canadian company. we spoke with the owner last night and comfirmed the a/s at 20m with a micro o/s. it was HUGE and LSMJ gapping this morning. Hold on for a fun ride.
Posts: 395 | From: south dakota | Registered: Nov 2006
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