Penny Stock Fraud Info
GFYO—GFY Food Inc. pumped by Seven Investment—FRAUD ALERT
I received the unsolicited “newsletter” from Seven Investment Group · 370 Amapola Avenue, Ste. 200 · Torrance, CA 90501 - return address
I didn’t see the disclaimer stating that they are paid for the promo, but they disclose:
“We may own, buy and sell any securities mentioned at any time.”
And:
“Please have in mind! that the interpretation of the writer of this newsletter about the news published by the company does not represent the company official statement and in fact may differ from the real meaning of what the news release meant to say. Please read the news release by yourself and judge by yourself about the details in it.
I don’t understand why you’re supposed to do everything “by yourself.”
The SEC filings indicate that President Edward Schwab just awarded himself a 24,000,000 share bonus according to the 1/5/05 filing - guess that’s what he’s pumping now.
There’s also a financial statement on file, with a $5+ million OPERATING LOSS for the period ended 9/30/04 - paid for with, you guessed it, stock. This is a very long statement, I don’t have the time to analyze it. Here’s an intersting bit of info: “The total value of the stock issued to Mr. Schwalb has been booked at $6,170,000.”
The day traders can have fun with this, but based on the “news letter”, the numerous press releases and the PK and OTCBB info, I give GFYO a serious FRAUD ALERT!
Over 131 million shares traded today according to OTCBB.
Pink Sheets info:
GFYO—GFY Foods, Inc.
Com ($0.001)(New)
Address:
601 Deerfield Pkwy.
Buffalo Grove, IL 60089
USA
Phone: 847-353-7554
Business Description: Not Available
State of Incorporation: NV
Officers:
Ed Schwalb, Pres.
Outstanding Shares: Not Available
Estimated Market Cap: Not Available
Current Capital Change:
shs decreased by 1 for 1000 split
Ex-Date:
Record Date:
Pay Date: 2004-10-26
Dividends:
Company Notes:
Formerly=Petrex Corp. (Old) until 11-98
Formerly=Institute of Cosmetic Surgery, Inc. until 12-00
Formerly=Petrex Corp. (New) until 1-02
Formerly=Force 10 Trading, Inc. until 12-02
Formerly=F10 Oil & Gas Properties, Inc. until 1-04
Class Notes:
Capital Change=shs decreased by 1 for 300 split. Pay date=12/03/2002.
Capital Change=shs decreased by 1 for 2 split. Pay date=11/20/1998.
Capital Change=shs decreased by 1 for 20 split. Pay date=01/02/2002.
Capital Change=shs decreased by 1 for 250 split. Pay date=7-13-04
Transfer Agent:
Merit Transfer Co., Salt Lake City, UT 84110
----------------------------------------------------------------------------------
http://www.gfyfoodsinc.com/company.html
“GFY Foods, Inc. was founded in the spring of 2003 by Ed Schwalb, the founder and CEO of the company. The company is aggressively acquiring Frullati franchise locations and is working closely with the Kahala Corporation to locate new locations for restaurants.
GFY Foods has four locations in operations at present; all are located in the Midwestern United States. The company intends to open 8-10 new locations by the end of calendar 2004, in metropolitan areas where there is minimal competition and significant upside to build a brand and establish the company nationally.”
-----------------------------------------------------------
http://www.gfyfoodsinc.com/locator.html
We presently have restaurants located in the Midwestern United States in the locations listed below. Please check back here later for more locations as we are growing rapidly.
Frullati At Buffalo Grove Fitness Center:
601 Deerfield Pkwy.,
Buffalo Grove, Il 60089
847.353.7554
Frullati At Eastlake Athletic Club:
23959 County Road 106
Elkhart, IN 46514
574-250-7045
--------------------------------------------------------
I guess the other two locations don’t have addresses.
The “newsletter” header info:
X-Persona: <[deleted]>
Return-path:
Envelope-to: [deleted]
Delivery-date: Thu, 06 Jan 2005 14:15:29 -0800
Received: from [69.60.0.62] (helo=iwebnews.net)
by 1n8-41.servernode.net with esmtp (Exim 4.43)
id 1Cmfui-0004YS-Nm
for [deleted]; Thu, 06 Jan 2005 14:15:29 -0800
From: “Investor Awareness”
URL e-mailed to —didn’t work, these morons managed to put the wrong domain name on their website. It’s - talk about some losers.
Posted by Christine on 01/06 at 09:34 PM in SELL - scammers and spammers, GFYO, Promoters, Seven Investment
Comments:
Does anyone have any info on “Merit Transfer co.” out of sla lake city, UT? Any dealings, experience with them?
Posted by GAMER on 04/19 at 03:12 PM | #
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