I doubt LATF owns V-Star. Looks like former Latteno tried branch out on their own to take over the Mekonza seafood business without giving shareholders anything in return. This may have caused too many people competing for the same client base and the confusion caused suppliers and buyers to take their business elsewhere. Most of this may have started from Ms. Ta who did not want the CEO, Thu Le, to post information on the MJ projects. I figured she would try to move the seafood business out of Latteno. The woman is a total screw up.
He has the position after she issued 4 billion shares without updates on her MJ projects. Now, she is in hiding out somewhere. The new CEO can only report what she has done over the past few years ( her screw ups).
My theory is they were contacting and using different third party LLCs to sell discounted shares on the open market in return for kick backs. When the CEO tried to report the financials, it exposed Ms Ta's kick back scheme. She fail into this scheme because she knew nothing about how to market products, websites or the public markets. KCN management likely advised her on it. Sad thing is that she did not have to do this. If she had used the money to fund the project correctly, they would have likely been a success. In two years the company thru Ms. Ta issued over $10 million in shares ( average market prices). She got something from these stock transactions. I questioned her and the company about the MJ projects but she still has not responded to any my questions. She is hoping that the whole thing will just go away over time.
If you check Derek Nguyen old company, Kaloca, you find that it is now a MJ consulting firm. The management is not listed on the site but I am certain that he is still behind the company.
In response to your last post: "Bass if you are right its not reflected in the transfer agent docs." The transfer agent listed KCN Capital first when the share issued started for projects. The LATF balance sheet never accounted for any of this cash and Ms. Ta never provided shareholders with information about her projects. When the CEO stated she would disclose the information in the next report 2nd half 2014, this is when the company went dark. Noticed also that the transfer agent listed third party LLCs but who are these people or companies? Why is it that none brought concerns or complaints about the lack of transparency or the no financial filings. People associated with KCN were likely behind most of these LLCs and Ms. Ta was likely aware that they were selling shares on the open market too.
I did not say they were associated together, I said the persons who were associated with KNC Capital LLC may be trying to become consultants in the MJ space. Also, MJIC and LATF are not associated with each other. Persons who were associated with KNC Capital go from one company or LLC to the next.
Good point. I would not encourage anyone to invest in this company until they see a current financial report. Ms Ta and company likely screwed this company up so badly, that John does not want to post the reports. The company does not need a R&D facility in Central America, it needs to invest in the websites and product line/mix. Shareholders also need to track down Ms Ta and company with the person who were associated with KCN Capital LLC.
I doubt they are working with MJIC. John P is trying to distant the company and himself from persons associated with KCN Capital LLC. Now, these persons may be trying to act as consultants in this space. They seem to be into one thing after another.
Well, I told you that Ms. Ta and company did not know what they were doing. she was issuing shares to third parties at a steep discount to fund projects but she did not know how to market the products and websites. The new guy is trying to restructure the company but she has screwed things up so badly, that he may not be able to do much. His ownership of the preferred stock is just a poison pill strategy designed to keep others from taking the company if he should succeed in turning things around. Ms Ta and company are still watching this company because the websites and investor following still have value. For the shares issued and the money raised on the open market, anyone could have grown this company into medium player in the MJ markets ( to include hemp based products). The woman is a complete id....
No one owns counterfeit shares here. Whomever started this nonsense does not know what they are talking about period. Small investor share are held under street names. When you by the brokers name is on the stock not retail investors. The broker keep inventories only. The transfer agent is not listing broker inventories or retail investors. It is only listing companies and person it directly issued shares to for the company. Latteno management was not using an investment bankers to float shares on the open market. They used small investment companies, LLCs or financial boutique firms to do this. These are the only firms listed on the transfer agent list. For example, if one firm sent its shares to a broker for disposition, these shares would not show up on the transfer agents lists, especially if the transfer agent had no custodian care of the shares.
The person who started this does not know what they are talking about. I am involved in a case like this now where a person talked to a lawyer for one hour ( free consultation) and now they think they know everything about the law. Just because someone talk to a transfer agent for an hour, does not mean they know what they are talking about.
The last post should read: "The company still has value, this is why the new CEO is controlling all the shares ( called a [poison pill] strategy) to prevent any shareholders from taking over the company."
I already checked this out, I found brokers listed as making markets for these shares. I also talked to my broker about this over a year ago. He said that they don't issue paper shares anymore because everything is on computers or electronically traded. The transfer agent is only listing shares it issued for the company to LLCs. Since most were not restricted, some of the shares likely ended up on the open market through brokers. Citadel was a main broker at one point for the shares. There were also likely offshore firms. I also don't think investors were selling their shares for a large part of the sell order came from borrowed shorted shares. Meaning someone went into retail investors accounts, borrowed their shares and sold them into the open market. At the height of this, they were shorting about 50 percent of the daily volume.
Ms. Ta and company did not help matter much by issuing shares for projects when she knew nothing about how to market products, about websites or the public markets. The company still has value, this is why the new CEO is controlling all the shares ( called a position pill strategy) to prevent any shareholders from taking over the company. He will have to fix what Ms. Ta and company screwed up. This includes investor confidence, the product line and the marketing of the websites.
Street Name: "The name that appears on the certificate is that of your broker, and this is referred to as being held "in street name." Investopedia
There were also a few brokerage firms making markets for these shares listed on the OTC market board. Citadel was one of them. To find them all, investors would have to scale through a lot of brokerage firms ( to include offshore firms). The naked shorts occurred because when many buyers enter the trade, someone borrows shares to sell (short) from positions held in retail investors accounts. Brokerage firms don't want small investors to lock the shares up (by demanding paper shares or moving shares out of margin) because they make money on the this.
This a BS thread. I talked my broker a year ago about this same subject. He said that they don't issue paper shares anymore. He also said that I want the actual stock certificates, it would cost me $500 for them to get it. Shares are also listed under street names for most brokers not under the shareholder names. They just keep inventories for the shares in what is equal to a vault. The listed shares for the transfer agent are likely listed because they were issued directly to those third parties by the company. They did not go through a broker for retail investors. Shares are electronic shares now not paper shares. This makes it easier to trade them on the open markets. Years ago, investors could demand paper shares from their brokers without problem but the information age and all broker going to online trading tech platforms, it is almost impossible to do now. Cost is too high to get paper shares.
The transfer agent shares are shares that were issued, by Latteno, directly to companies or person on the list. It does not show retail investors. Retail investors can have shares sent to them but will cost them. who ever started this rumor does not know what they are talking about.
I told you the company was legit. The former CEO and Ms Ta tried to transfer assets out of the company and use it for personal gains. They likely tried to form another private seafood company to divert buyers and suppliers away from Latteno and they used our money to do it. This is Ms Ta's nature, did not know how to function in a public company. Well, at least the current person is giving out the information for shareholders. This is a good sign.
The whole problem with this company is management. They said a lot of things , collected a lot of money from investors on the open market but did nothing to increase shareholder value. Now, they are just collecting money from the businesses without giving anything back to shareholders.
I really think they should approached the case differently. Neighboring states can't control the penalties and laws of other states because of their sovereign powers.