Scammers versus truth- tellers.
Scammers don't like sunlight.
All it takes is anyone with a brain to see this man presided over 12 years and $64 million in losses to know whats ahead.
Calvert belongs behind bars.
The sec would say, its all there in black & white, full disclosure that he has been scamming people for 12 years. So they let it go on.
I disagree. I think serial criminals belong behind bars.
When a district court comments on your chicanery, you might bee a good fit with Calvert !
SEC v. Great White Marine & Recreation, Inc., (2005 WL 2604454) (5th Cir., 10/14/05): Interesting procedural dynamics to this case, which started when the SEC brought an action against Great White and its CEO for fraudulent distribution of unregistered securities. The case, commenced in the District Court for the Western District of Texas, sought injunctive relief, disgorgement, prejudgment interest and civil penalties. The district court entered an order staying all claims against Great White, appointing an agent to collect, liquidate and disburse assets pursuant to a future order or judgment for disgorgement, and enjoining anyone from initiating bankruptcy proceedings without the court's permission.
About one year later, the Augustine Fund filed an involuntary petition against Great White in the Bankruptcy Court for the Northern District of Illinois asserting a $1 million claim. Great White's liquidation agent moved to transfer the venue of the bankruptcy case to the Waco district court. The Illinois bankruptcy court entered an order of relief under Chapter 7, appointed a trustee, and deferred a ruling on the transfer of venue.
The Waco district court then issued an order for Augustine to show cause why it should not be held in contempt for violating the stay, and soon afterward found that Augustine had violated the stay order and ordered it to file an agreed order in the Illinois bankruptcy court to transfer the proceeding to the district court in Waco.
In its order enforcing the stay, the district court wrote that it "is genuinely dissatisfied that [Augustine has] not effectuated the transfer of the bankruptcy case to this court." The SEC and the liquidation agent filed a motion with the Waco district court for abstention pursuant to 11 U.S.C. § 305(a). The district court granted the motion, abstaining from and dismissing the bankruptcy proceeding. Augustine then filed its claim with the liquidation agent.
The district court then issued an opinion and order equitably subordinating Augustine's claim, providing Great White's defrauded investors $.08 per share, but giving Augustine nothing on its $1 million claim. In recommending against allowance of Augustine's claim, the liquidation agent wrote:
With regard to Augustine Fund, the Court is well aware of its chicanery in this matter. The actions and activities of Augustine in filing an involuntary bankruptcy, and seeking to appropriate the entire Disgorgement Estate, to the exclusion of all other claimants, mitigates equitably against them.
The district court agreed, writing, "[i]n knowing and willful contravention of the Court's order, Augustine filed its bankruptcy in Chicago without seeking leave of the Court." The district court added, "[n]ow although more than $100,000 of the Estate's money was spent defending the improperly filed bankruptcy, Augustine still seeks more money from the Estate to such an extent that no shareholder would receive any compensation." The district court equitably subordinated Augustine's claim (though not under Bankruptcy Code section 510(b), since the case had been dismissed), and the Fifth Circuit affirmed.
Circuit Judge Edith H. Jones (who now probably has more time on her hands than she'd care to have given the nomination of Judge Alito, not herself) dissented, stating that the district court's findings justifying subordination are contradictory of earlier proceedings in the case and should be reversed.
Out of Chicago I believe. Their name escapes me right now but they lost with the GWM scam and appealed to the bankruptcy court and were denied.
Wouldn't be surprised if they are working hand & glove with Calvert here.
Oh and those familiar with Denny Boy, ask him about the REVERSE SPLIT that cost shareholders big !
I actually bought & owned the stock way back when. They were a failed public offering by a bucketshop firm.
Company was called Repossession Auction. They bought & sold used cars. It wasn't really an auction, just a used car lot.
I bought the stock for $1.125 back when stocks traded in 8ths. At the time, they had about $3 in book value and $1.50+ per share in cash with no debt.
They got into buying used slot machines and putting them in Mexico & Columbia. They would pay about $300-400 each and then lease them out for $150 per month. Stock got a nice rise and I made a lot of money. Partially just because I got lucky but partially because I bought when there was no risk.
Later, the CEO had health problems and passed away and his family sold his majority stake to a scammer named Todd Sanders who pretty much duped them out of nearly everything he owed them and pillaged the company.
Then came Mark Roy Anderson who stole more & then came came Calvert who has been losing money,$64.5 million total, for 12 straight years while scamming investors everywhere.
Again, PLEASE ignore me & buy more stock. Nothing would make me happier than watching Calverts partners in crime lose money.
Great White Marine & Recreation, Inc.
On June 19, 2001, the SEC obtained permanent injunctions against Great White Marine & Recreation, Inc. (Great White), and its former chairman and president, Alvis Colin Smith, Jr., in connection with their fraudulent distribution of unregistered Great White securities. The SEC alleged that Great White and Smith raised at least $10.8 million, that Smith misappropriated $3 million for personal use, and that Great White made a $1 million to pay investors as part of a Ponzi scheme. For more information about the SEC's action, you can read several Litigation Release Nos: 16225 (July 29, 1999), 16364 (Nov. 18, 1999), 17062 (July 6, 2001), and 17194 (Oct. 16, 2001).
The Court appointed Clark B. Will as collection, liquidating, and disbursement agent. Mr. Will has set up a website for Great White investors.
This is not my first rodeo. I exposed Calverts mentor as well as a scam called Great White Marine out of texas where it was a total fraud, just like I said.
In the case of this stock, you have a 12 year history of the same BS over & over & over again.
Feel free to ignore it & buy all you want.
My guess is the posters here are those who got 25 cent private placement stock and they need patsies to sell to.
Therefore, I don't believe there are any real retail buyers here.
You don't lose $64.5 million over 12 years because you know what you are doing.
The future is no different than the past for scamsters like Denny.
It took multiple letters to the SEC but they finally got Anderson.
Calvert is just like him except a little less blatent.
Starting at 6/30/02 which is right after Denny-boy took over, the company had an accumulated deficit of $12.919 million.
At 6/3-/14, a full 12 years under Calverts expert leadership, the company now has an accumulated deficit of $77.448 million.
That means in his 12 years at the helm, he has burned $64.529 million. Or an average of $5.377 million per year.
It went from Nuway Energy to Nuway Medical to Biolargo.
They have never had any revenue to speak of. But they have managed to lose $64+ million while Calvert lives like a king.
The reason its being hyped so hard right now is they have managed to issue a boatload of private placement shares and warrants in the 20-30 cent range and those people need you to sell to.
Yes, you are the patsies who allow Calvert to blow $64.5 million over 12 years, changing businesses multiple times with dozens or even hundreds of material misleading press releases along the way.
All gifts for being a grifter/scamster.
They were all gifts. For destroying shareholder value each and every since he came to this scam.
“The Blaine Group is an incredibly valuable asset to our company. They have the knowledge that comes with hands on experience and resources that extend our management team's reach to move our business forward. We appreciate their commitment to our success.”
—Dennis Calvert, President, Nuway Medical, Inc
Millions & millions of losses over 10+ years and the number of flat out LIES is well in the dozens.
Don't believe me, its ALL in the SEC filings. (except not the lying press releases, he hid them)
Bottom line is if you buy this stock there is a 98% chance you will lose money.
And a 100% chance that your money lines Calverts pocket.
Mark Roy Anderson, 57, who was disbarred from the practice of law in Nevada, received the prison sentence this morning from United States District Judge Percy Anderson, who also ordered the defendant to pay more than $9.5 million in restitution, which represents the total amount of losses from Anderson’s fraudulent scheme.
Judge Anderson stated that “this was nothing more than an elaborate and concerted fraud by a professional conman,” noting that the defendant “had prior convictions...[that] came from a decade-long frenzy of fraudulent activity in the 80s.” Judge Anderson called Mark Roy Anderson a “financial predator with little regard for the law or harm he causes,” concluding that he was “solely motivated by greed.”
Mark Roy Anderson was remanded into custody in April 2011 after, according to Judge Anderson, he “brazenly violated court orders.” Mark Roy Anderson pleaded guilty to one count of wire fraud and one count of money laundering last July.
You can lead them to water but you cant make them drink !
Sounds like you have been around long enough to know like I have.
Calvert is a CRIMINAL. Its obvious.
while obvious scammers continue to bilk the public.