Remember when Shaquille O’Neal’s legal team threatened me with a cease and desist letter when I called the stock he was promoting a pump & dump? Remember my reply?
That was months ago and I haven’t heard from them since. That BLATANT pump & dump stock has dropped 90%+.
After reading this post, my guess is I won’t hear from Ron Wheet and his severely-checkered-past-is-that-not-indicative-of-the-future wannabe company Revolutions Medical Corp. (RMCP) which will also likely drop 95% in the coming months.
In response to a hot-off-the-presses article in The Post & Courier entitled “Stock surge sparks nasty comments” I feel it’s my duty as an American to respond to the “defamatory and potentially criminal” comments made by current Revolutions Medical Corp. (RMCP) CEO Ron Wheet.
He says my comments are that except I have only posted facts, supported by public documents while he has tried to turn his questionable behavior onto me and other righteous short sellers.
No sir, I will not allow a penny stock scumbag to defame me when he literally should be tarred and feathered for his actions. Allow me to explain…
Just a few days ago I wrote the intensely researched post “Revolutions Medical Corp. (RMCP): The 3-Employee Penny Stock Trying To Prove Past Fraud Is Not Indicative Of Future Fraud?” and to The Post & Courier Ron is quoted as saying “the company is under attack from “shorts” — investors who profit when a stock falls in value. “They have been saying all kinds of crazy stuff,”.
No Ron, what I say is not crazy and it’s extremely well documented. If you had any questions, you could’ve contacted me just like The Post & Courier’s John McDermott did.
Instead your NASD-barred IR man Bryon Scott Key took to the Yahoo! Message boards, asking for questions, but failing to answer those asked of him in reply to his message, a very questionable PR tactic I’ve not seen used.
As you’ll read below, it gets tiresome when penny stock CEOs abuse the world’s lack of knowledge about short selling to make us look like the bad guys when in fact we should be getting keys to cities and having movies made about us for our efforts which benefit investors and traders everywhere.
Sure, sure, it’s much more fun to be bullish, but when a company like RMCP rises 600% on the back of premeditated-press-release-cum-paid-for-promotional mailers, a company which had to change its name and do a 1-20 reverse split after being busted by the SEC for securities fraud the only logical thing to do is to short sell and dig. And what I found isn’t pretty as I posted.
Having already taken my profits, now I am not short the stock anymore so why should I care? According to CEO Ron Wheet “shorts have been bad-mouthing the business to drive down the price so they can cover their bets without a loss.”
He continues “Some of the online comments have been defamatory and potentially criminal, he said. He is considering legal action”
Ron, know that based on your comments I’m not just considering legal action, but I’m considering making a citizen’s arrest for the good of the community…
Do you not realize there is something terribly wrong—certainly ethically if not legally—when you have press release like last Friday entitled “Revolutions Medical 3cc RevVac Safety Syringe Selected by the U.S. Department of Defense” and now in The Post & Courier article you say there is no official contract and that you had the PR because you “…made a decision to err on the side of caution. … We were worried that word had leaked out or something,”
I am going to charge admission to our hopeful court date to hear you go up on the witness stand and claim that you announced a contract with the Department of Defense that didn’t exist to “err on the side of caution” and that by “erring on the side of caution” such news would spike your stock from $1 to $1.70 in two days.
Or that no matter how carefully your NASD barred IR guy Bryon Scott Key worded the PR to make you not legally responsible, media outlets ignorant to the evil and unethical behavior of penny stocks would pick up the story and label it as “Revolutions Medical gets US Defense contract for 3cc RevVac Safety Syringe”.
It’s funny, I don’t see you issuing any press releases clearing up the confusion you purposely (?) created.
Ron, Bryon and anybody else working with you part-time or as an outside consultant (I’m referring to as of December 2009 Revolutions Medical CTO Richard Theriault who is apparently just an outside consultant now) should be ashamed of yourselves.
Ron, for far too long you are your unethical-dealing penny stock CEO kind have used and abused gullible investors and the media, taking advantage of their ignorance with your smooth talking marketing and hype and it’s sad that there hasn’t been anybody willing to stand up to you and expose you for the snake you are.
I’m sure the SEC will be looking into you soon if they aren’t already—remember RMCP is nothing more than a new name for Maxxon Inc, a company once busted by the SEC for making similarly false claims about manufacturing & contracts–although nobody even bothers to read their long boring filings…except me.
I am not short this stock anymore (as I write this at least although any pump-and-dump-looking carcass company such as this is ALWAYS a potential short). Yes, I did earn approximately $4,600 total betting against it (lost $3,000ish the first time around, made $7,600 shorting higher…both trades fully detailed and disclosed on Profitly), but my beef with you goes far deeper than just money.
Ron you probly don’t realize it, but your actions are EXACTLY the same as a long line of incompetent and unethical penny stock CEOs whose companies and shareholders similarly hired stock promoters to pump their stocks long before you. Do you guys all bowl together or something or are you all following some kind of “How To Be An Incompetent Penny Stock CEO” instruction manual?
(Remember days before I shorted the stock, I mocked the absurd promotional mailer that was making the rounds entitling the post “12 Steps For Wannabe Stock Promoters To Put Out Hitler-esque Penny Stock Propaganda”
Let’s see, there was Randy M. Griffin CEO of Mesa Energy Holdings, Inc. (MSEH) who went so far as to issue an SEC filing encouraging people not to listen to me.
He played dumb with penny stock ignorant TheStreet.com and The Dallas Morning News, and like you Ron, blamed the short sellers for his stock’s drop from the $3s to the $2s.
Later Mesa Energy was exposed for pumping & dumping as insiders apparently cashed out 6+ million shares while the pump was on. There is currently and SEC investigation and inevitably like RMCP within months, the stock dropped 90%+
Randy M. Griffin still professes his innocence, blaming the whole pump and dump on the company’s previous owners. It’s funny he hasn’t apologized to me.
Then there was NXT Nutritionals Holdings Inc (NXTH) ’s CEO Francis McCarthy who went on Huffington Post and was quoted as saying “McCarthy blames the drop on an attack from the shorts” (sound familiar?) for his stock’s drop from the $3s to the $2s, refusing to acknowledge that the multi-million dollar pump & dump promotional mailer campaign or his embarrassing SEC filings which showed sales dropping 60% had anything to do with it.
Inevitably like RMCP, within months, that stock dropped 90%+
Francis McCarthy never apologized to me either, despite the fact that had he listened and shorted his own stock, he’d be a considerably wealthier man now.
And who can forget SpongeTech Delivery Systems, Inc. (SPNG) who is apparently suing the New York Post & I (they have failed to serve me) for a “short & distort” campaign alleging I worked with NY Post reporter Kaja Whitehouse to feed her misinformation and profit from short selling the stock as it dropped thanks to my alleged misinformation delivering.
Unfortunately for them, I have never even spoken with Kaja (she simply highlighted my blog) and my massive “Short and distort” short selling profits amounted to $630 which I fully detailed (I only shorted AFTER a 50% intraday crash and slight bounce, the chart pattern fit exactly with what I teach) and my SpongeTech research, like my RMCP research, was all fully documented and supported by publicly available information
Refusing that millions of shares given to penny stock promoters had anything to do with the stock’s 1,000%+ rise, these same Spongetech Executives who are apparently suing me were just Indicted For Fraud, Conspiracy, Obstructing Justice, Money-Laundering & Perjury and the stock has fallen 99%:
I encourage all of you to watch my instructional DVD packages, you’ll see these are not isolated incidents, there have been hundreds of pump & dumps that have gone under the radar.
So Ron, I dare you to bring legal action against me—no, I encourage it.
This post is just a taste of the credibility and actual research I bring to the table and your lawsuit will only help allow me to teach every last penny stock investor and trader how to profit, legally, off the predictable actions of human slugs such as yourself.
Because unlike your current company, your past company, your employees and your employees past companies, who amongst you have more than a dozen SEC cases & FINRA violations, my track record is squeaky clean and I am 100% transparent. I
In contrast to you, my products and sales are real and useful…I don’t need to put out questionable press releases; my customers find me through word-of-mouth as my subscribers have already learned to make several hundred thousand dollars just in 2010 alone.
Several people and companies have threatened legal action against me—most notably SpongeTech, Shaquille O’Neal and BiomedReports and despite my refusing to back down, sadly, each one of them has not followed through on their promise of legal action.
Ron, please be different.
A year from now, your chart will be no different from the pumps listed above and the game will be all over so now is your only chance to strike.
I would LOVE for the people of the world, the entire internet, subscribers to my 4 newsletters and all of South Carolina, heck the news would even cross the famous billboards of “South Of The Border” into North Carolina too to hear this case as I have a feeling it would expose not only you, your NASD barred IR man Bryon Scott Key, your pathetic attempts at calling your product “revolutionary” (weren’t you supposed to do $14.8 million in revenue Q2 2010? You lying sack of scum), but also help the SEC and investors everywhere better understand what pump and dumps are all about.
Heck, I’d ask the court to LiveStream the entire proceeding and I’d even make another instructional DVD package about it because you and I both know I am in the right, I’ve said the whole truth and nothing but and best of all everything I wrote is documented and taken from publicly available sources.
Adapting the words of a great American film: You just messed with the wrong trader. Look I even did a mock video taking the side of your stock promoters preparing for our day in court:
There’s a 99% chance you’ll back down, your penny stock will drop 90%+ over the coming months as you and your two or three employees take salaries and work with toxic financiers and gullible penny stock investors, slithering back to your inevitable penny stock grave and just like the previously-big-talking CEOs of penny stocks past whose stocks also crashed 90% or more.
At this point I’d say there’s 50/50 odds of an SEC investigation—your seemingly fictitious contract in Friday’s press release didn’t help.
But here’s to hoping you do take me on publicly in a court of law so I can stop writing long posts like this again and again to my audience of a few thousand will grow to include that of CourtTV and everyone will discover ALL the facts of the case–from those who paid the stock promoters to examining the manufacturing facilities and contracts you allegedly have (note: I don’t believe a word you say, the entertainment of the discovery process will be worth the price of ALL my legal costs!).
You have my promise that I will show ALL my research, my research process and why you and your actions are so deplorable and more importantly for traders and investors, predictable.
Forget fines and jail time, I will push the courts to bring back the good old-fashioned punishment of public tar and feathering. In a perfect world such cruel and unusual punishment might dissuade future penny stock promoters and management from partaking in the same old pump and dump process, but sadly it won’t.
You and your kind are like weeds—no matter what I do, you will keep popping up. So subscribers to my 4 newsletters and I will keep profiting from your existence.