SA article due out tonight "RVLT - Selling Retail Investors A Field Of Dreams" part 1
In this article I will try to unravel one of the biggest market manipulation schemes since one of my favorite 2 shorts: VLNC and AIXD (now CIDM).
This story starts about 9 months ago, when the LaPenta clan at Aston Capital saw a chance to orchestrates a stock market scheme, netting them several hundred million dollars in just months. Yes hundreds of millions of dollars in the pockets of the LaPenta's on nothing more than misleading press releases targeting retail investors
The Big Day for LaPenta
On September 12, 2012 Mr. LaPenta crafted an interesting deal. For $6,000,000 Mr. LaPenta's Aston Capital acquired 600,000 Series B Preferred stock. This stock was convertible into common at a measly $0.13. This money was desperately needed by the company to pay off some debt that was about to put it out of business and to pay Phillips for a lawsuit they lost (this will come into play later). For Mr. LaPenta's generous love, he would be left with 46.2 million shares of stock, or 73% of the company. Now, what's interesting is Mr. Lapenta was able to steal the company out from under shareholders without their approval:
The rules of The NASDAQ Stock Market ("NASDAQ") would have normally required that Revolution's stockholders approve the Investment prior to closing the transactions contemplated by the Investment Agreement. However, NASDAQ granted Revolution an exception from this stockholder voting requirement under Listing Rule 5635(f), which provides that an exception may be granted when (i) the delay in securing stockholder approval would seriously jeopardize the financial viability of the enterprise and (ii) reliance on such exception has been expressly approved by the audit committee of the board of directors comprised solely of independent, disinterested directors. NASDAQ also has granted Revolution an exception from the voting rights requirements of Listing Rule 5640 and IM-5640 with respect to the transactions contemplated by the Investment Agreement.
Sure looks to me like this guy wrote the article, then posted it on yhoo and told all it would be on S.A. aka the TMZ of Wall St. Now the troll is saying he did not write the article yet amazingly he was the only ONE that knew about it. Typical short who will lie, cheat and steal to make sure he makes his $0.20. Seeking Alpha should be shut down and the editors thrown in jail for helping stiffs like this guy front run the market. Seeing these shorts write hit pieces on a daily basis and use this platform to get the word out as they pile on and short away.
Any blow hard can write anything they want on that rag. No facts checked just write away and they will pay you. How come no input from anyone at RVLT. Did you bother to ask them anything about your opinions and accusations?????? Of course not. And now we see 20 posts a day from this guy telling you what a genius