You probably know I’ve written about Mesa Energy Holdings, Inc. (MSEH) mocking the blatant stock promotion surrounding their carcass of a stock and how the disclaimer on some of that paid-for-promotion was invisible to the naked eye (SEC violation?) and , subscribers and I made tens of thousands of dollars shorting said carcass stock
And you know what, just as with similarly promoted NXT Nurtrionals Holdings Inc. (NXTH) (see their laughable “earnings”), SpongeTech Delivery Systems Inc. (SPNG) and dozens of other promoted pieces of crap (and I talk so negatively about them because unlike the paid promotional mailers which use hyperbole to describe to these “companies” potential, I quote from their ugly, ugly SEC filings where lying and exaggeration is not just frowned upon, it’s illegal)
See how MSEH has done since my exposes of the blatant stock promotion and short selling the stock in the low $3s and high $2s:
Now they have the gaul/ignorance to name ME in their latest SEC filing:…bring it on MSEH, the facts are ALL on my side and the more you inflame the situation, you the further embarassed you shall be:
Item 8.01. Other Events
The following relates to various media and analyst reports that have been recently circulated regarding Mesa Energy Holdings, Inc. (the “Company”).
Download a PDF version of this post.
Over the past several months, Randy M. Griffin, the Company’s Chief Executive Officer, has been interviewed by a number of financial journalists and market analysts including TheStreet.com, World Market News, the Roen Financial Report and the Intelligent Investor Report. Mr. Griffin has also provided publicly available information to these entities and to others who have inquired, as requested. The Company has never approved, authorized, endorsed or paid for any articles by such entities. Other persons may have published similar brochures or articles about the Company or may publish similar materials in the future without the Company’s knowledge, authorization or approval.
The Company has recently been made aware of certain articles published by Timothy Sykes regarding the Company, its operations, its Board of Directors and its Advisory Board. The Company has no relationship with Timothy Sykes or anyone affiliated with him or his publications, past or present, and Mr. Griffin has not been interviewed by Timothy Sykes, or any other person or entity to prepare such articles.
The Company’s shareholders, together with prospective investors and all persons looking to learn about the Company, its prospects, and its present and proposed operations, should not rely on such persons, publications or articles. In evaluating the Company and its prospects, reliance should be placed on the periodic and other filings that the Company makes with the Securities and Exchange Commission (the “SEC”).
The Company recently engaged the services of BuyIns.net to provide Regulation SHO compliance monitoring, short sale trading statistics and market integrity surveillance. BuyIns.net’s recent report dated March 30, 2010 indicated that approximately 10.7 million shares of the Company’s common stock have been shorted since December 2009. BuyIns.net will continue to monitor such activities on behalf of the Company.
Subject to SEC rules regarding fair disclosure, the Company has been, and will continue to be, very open and proactive in providing information to investors, analysts and media outlets who are genuinely interested in learning more about the Company.
Hmmmm, I wonder why they would mention a mere penny stock blogger in a formal SEC filing? No I did not interview the CEO because as I’ve stated many times, the word of any penny stock CEO means less to me than the word of a bum robbing a liquor store…MSEH’s CEO is no different…my info comes from the ugly reality of SEC filings and something called a decade-of-experience trading such paid promotional mailer stocks and seeing how they ALWAYS end up.
Infinitely more interesting is that somehow The New York Observer expose on Pataki and MSEH detailing Pataki’s former ties with past pump & dumps didn’t make the SEC MSEH filing cut, but I did? Does that mean I’m more powerful than The New York Observer?
Even though they don’t say anything I wrote is inaccurate (because all my points are dead on true/accurate as they are taken from publicly available sources….as is typical of these kinds of plays, the company claims innocence and denies having knowledge of the blatant/absurd stock promotion mailers that look like THIS
MSEH isn’t the first or the last to deny knowledge of these mailers…remember good ole Kentucky USA Energy, Inc. (KYUS), which also had laughable assets, an even more laughable paid promotional mailer and also pushed back the filing of their quarterly reports, well they also denied knowledge of their promotional mailers:
Form 8-K for KENTUCKY USA ENERGY, INC.
Item 8.01 OTHER EVENTS
We have recently been made aware that a promotional brochure published by Global Investor Watch respecting us, our operations, and predictions concerning the future price of our common stock has been distributed through a mailing. We have no relationship with Global Investor Watch, Green Century Capital, or anyone else affiliated with Global Investor Watch, or its publications, past or present, and have not engaged Global Investor Watch, Green Century Capital, or any other person or entity to prepare such brochures. Further, we have never approved, authorized or endorsed such brochures. Other persons may have published similar brochures or articles on us or may publish similar materials in the future without our knowledge, authorization or approval. Accordingly, our shareholders, together with prospective investors and all persons looking to learn about us, our prospects, and our present and proposed operations, should not rely on such persons, publications or articles. In evaluating us and our prospects, reliance should be placed on the periodic and other filings we make with the Securities and Exchange Commission.
And look how their stock turned out:
So yes, I would agree investors should look at the company’s SEC filings, they already delayed filing their latest quarterly report, so all we have for this $61 million company ($130 million at its promotional-mailer-induced peak) is a 6-month old filing that includes such gems as:
In the Merger Agreement, the Company agreed to enter into an agreement with an investor relations firm or firms to be identified (the “IR Consultants”) to provide investor relations services to the Company, pursuant to which the Company will agree to deliver to the IR Consultants an aggregate of 1,000,000 shares of Common Stock (the “IR Shares”); 70,000 of those shares have been issued to an IR Consultant, and 930,000 have been issued and are being held in escrow pursuant to an IR Shares Escrow Agreement with Gottbetter & Partners, LLP, as escrow agent. The shares issued and held in the escrow account for IR Consultants’ future services are initially valued at $0.25 per share or $232,500. The Company has recorded the 930,000 shares as prepaid expense as of September 30, 2009.
(doling out lots of shares to an “IR firm” at discount prices, MSEH, you’ve been a bad, bad boy…don’t you know that IR firms LOVE getting cheap shares…then they do their “IR” thing and presto chango, they have solid profits….sketchyyyyyyy)
As indicated in the accompanying consolidated financial statements, we have incurred recurring losses from operations resulting in an accumulated deficit of $3,137,921. These conditions raise substantial doubt as to our ability to continue as a going concern. To finance our net losses, MEI sold stock and officers and directors funded MEI through notes payable. There can be no assurance that we can sell stock or debt or that the officers and directors will continue or have the ability to continue to make financing available to us in the future. Our officers and directors are under no legal obligation to provide additional loans to us. In the event that our officers cannot make such loans; that we cannot create a source of recurring revenues; or that we do not receive funds from other sources, we may be unable to continue to operate as a going concern.
(Like ALL promotional mailer stocks, this carcass company can barely be called a company, their business stinks!)
Much more can be said, but who cares,, subscribers and I all banked shorting this and everyone else learned a valuable lesson. On April 14, 2011 and April 14th, 2012, I’ll do followup posts and my guess is MSEH’s chart will resemble KYUS to a T…just a hunch 🙂