Stock holder of CME trying to get people to buy stocks and fund CME

supremeaaron

I was browsing when I saw this and it really does show the state of CME in my opinion.

sacramento.craigslist.org/bfs/1356087790.html

Looks like the people who bought stock will suffer. CME stcok went from .10c to $2.00 now back down to .10c.

Also CME only got 1 million of the 8 million according to this person. So if they didn't get the 8 million needed why is MGM still letting them use the licence?

Kyriesunset

Looks like the 1 Million only paid off the licensing and some of the back debts due (without putting a dent into any of it).  I doubt they have paid much, if any, of the millions of dollars CME owes in back payroll taxes.    And I find it hard to believe the Doctors got that much control over expenses with only a 1 Million contribution.   I'm doubting it was that low. 

So they are surviving paycheck-to-paycheck on selling penny stock?   Why on earth would anybody go back to work for them without the guarantee of a paycheck.

Nice find!  Is anyone going to call Mr. Masters?     

Pugla

I've just always assumed that CME was never in real danger of losing the license--only that someone found out that the original agreement expired August 1 and figured MGM would withdraw the license amid all the scandal.

More than anything, what I am still concerned about is MMOGULS. I wonder, for instance, how long CelticElf (random pro-SGW official forum poster) will play a SG game from this company while getting spammed to join someone's downline.

I wonder how many people who are trying to spread the good news about a SG MMO coming fail to mention that it is attached to an MLM that looks very shady.

ariccaron

Wow, its really bad when your stock is traded on craigslist.

Zhiroc

Looks like that Craigslist post has been deleted.

Remember, CME is not a publicly traded company, as is a lot of small corporations. I'm not even sure what the legality is of trading in such stock.

Kyriesunset

Did anyone get that guy's phone number?    Damn, I hate when I dont do screenshots. 

Advertising the sale of stock on a non-publically traded company has CME violating Security & Exchange Commission Rule 506 again!   

p.s.  Ascendence Capital still has those confidential documents up on the web for everyone to see.    Since the crack team is back at work, maybe they can take care of that and get the CME webpages updated with the 1 or 2 executives that are left.  LOL.

supremeaaron

Taking all bets on did CME do something illegal again, odds are 5-1 any takers :P

Agricola1

CME trying to publicly trade capitol shares? Another in a long line of incidents where Gary Whiting breaks the law in the belief he can get away with it and so far he has. This just goes to show how desperate he is and how low CME has fallen now. CME is little more than a badly run ponzi being funded by a badly run pyramid scheme, now Gary is breaking the law again by selling capitol shares publicly to raise cash. It makes sense as he's spent over a year trying to raise enough money from angel investors to either complete SGW or just keep the ponzi going (I'm not certain which). Now that time has caught up with him and the angel investors were as elusive as the Lochness monster he's stooped to the illegal sale of capitol shares.

No one that has any skills will go back to work for these jokers, that's a stone cold fact. Most of the talent they formerly had now have jobs working at other studios and would need their heads testing to go back to team Whiting. No one in their right mind would invest anything in CME, as writing a cheque out to Gary Whiting is akin to putting your cash in a bag and throwing it on a bonfire. CME has nothing left except a few rookie developers a bloated Q&A department and some talking heads with Gary's hand up their butts!

For a long time now it hasn't been a case of if CME will go tits up, but when. Alot of people, investors and familys got burnt by Whiting because of all this and alot of people would like to see nothing better than him burn in court. As time goes on it seems it is more and more likley that we will get to see it. With each passing day his fate approaches, and it seems he has another daring act of legal escapology infront of him this month. The question is will he do another Hoodini or will this be the one to nail him and his snake oil business practices?

Skooma2

It is illegal to publicly offer shares of stock of a privately held corporation without tons of compliance with SEC regulations, including issuance of a prospectus, etc.  And, certainly, no corporation "going public" would offer its shares for sale on Craig's List.  If the SEC finds out, this guy is toast.   They're the Feds, not private counsel for civil litigation.  

Mokwee

I would love to hear more about this. Especially if its true they were on craigslist AND tried to do as the OP and followers suggest. Would make for some great reading im sure!!!!

Agricola1

It seems this isn't Gary "Candiru" Whiting's first run in with the SEC! Another one of his companies Para mas internet inc company desription being,

"Para Mas Internet, Inc., through its wholly owned subsidiary, Amerigroup, Inc., issues retail discount cards to businesses for redistribution to their customers in Florida. The company offers Itzyourmall business card, a discount loyalty-rewards card, which entitles the card-holder to receive discounts locally and nationally, as well as to earn reward points to be spent by the card-holder at various participating businesses. It also sells discount tickets to the movies, other entertainment venues, sporting events, and amusement parks to the cardholders through mail. Para Mas is based in Gilbert, Arizona."

sounds all rather familiar to me, selling useless crap through Itzyourmall another Gary Whiting company that is selling MMOGULs and SGW (if it ever releases!).

Seems Gary and Para mas came a cropper with the SEC for not paying debts (suprise, suprise!) here, click. For those of you that can't be bothered to click here is a snipet,

"Para Mas (CIK No. 1103145) is a revoked Nevada corporation located in Surrey, British Columbia, Canada. Para Mas is delinquent in its periodic filings with the Commission, having not filed any periodic reports since it filed a Form 10-QSB for the period ended June 30, 2005. At that time, Para Mas reported a net loss of $176,814 for the prior six months. As of July 17, 2007, the company’s common stock was quoted on the Pink Sheets (symbol: PMIJ)."

Now I'm no legal; expert or anything (I'll leave that to Kyrie) but it doesn't look to good! A company Gary had registered in Canada didn't file reports it was required to by law and was running at a net loss. This might explain it better from the same document,

"These five Respondents are delinquent in their periodic filings with the Commission, have repeatedly failed to meet their obligations to file timely periodic reports, and failed to heed delinquency letters sent to them by the Division of Corporation Finance requesting compliance with their periodic filing obligations or, through their failure to maintain a valid address on file with the Commission as required by Commission rules, did not receive such letters."

and

"In consideration of the above, it is necessary and appropriate for the protection of investors to revoke the registrations of each class of registered securities of ECO2, Lapitos Acquisition, Para Mas, Prentice Capital, and Spa Faucet."

I wonder if Gary had any links with the other companies? I'm starting to think that there isn't a dodgy company in North America that hasn't been involved with Gary Whiting! First the U.S.A then Mexico and now Canada, what next?

Zhiroc

I kinda doubt it was CME or even GW who was behind the craigslist thing. At the prices offered, they weren't going to raise a lot of capital. I'd expect that if it was, they would be asking for a lot more per share. CME is not registered with a lot of shares  (I seem to recall 500K total, but that could be wrong).

To me, it's more likely some poor investor who thought that his shares were toast anyways, so they thought to have some fun becoming a mini-market, and seeing what they could get.

Kyriesunset

Originally posted by Zhiroc


I kinda doubt it was CME or even GW who was behind the craigslist thing. At the prices offered, they weren't going to raise a lot of capital. I'd expect that if it was, they would be asking for a lot more per share. CME is not registered with a lot of shares  (I seem to recall 500K total, but that could be wrong).
To me, it's more likely some poor investor who thought that his shares were toast anyways, so they thought to have some fun becoming a mini-market, and seeing what they could get.

 

Maybe it was one of the Doctor's with cold feet trying to get a portion of his investment back. Or, another shoddy investment shyster hired by Gary to pimp CME shares to anyone with a pulse.

Yeah, scenario no. 2 seems more likely.

Agricola1

Originally posted by Zhiroc


I kinda doubt it was CME or even GW who was behind the craigslist thing. At the prices offered, they weren't going to raise a lot of capital. I'd expect that if it was, they would be asking for a lot more per share. CME is not registered with a lot of shares  (I seem to recall 500K total, but that could be wrong).
To me, it's more likely some poor investor who thought that his shares were toast anyways, so they thought to have some fun becoming a mini-market, and seeing what they could get.

 

I agree, but then again I wouldn't put it past Gary to have his cronies advertising CME capitol shares everywhere and then let's say selling the same 100k shares 1000 times over? As long as it would cost no more than printing a share certificate in the barn at MMOGULs ranch and posting it I'm certain a businessman of Gary Whiting's standing would give it a try.

At this point unless there's evidence to prove Garys innocence I'm prepared to assume the worst, with his track record I'd be a fool to assume the best. Though I'm willing to believe it's probably an investor trying to get something back on his/her investment. However to be honest that share certificate (for the investors that actually got one) is nothing more than a fancy piece of toilet paper!

Maybe in a few years you can sell the certificate on ebay as a collectors item?

orthotdh

I thought that I would mention that some investors are trying to clean up the mess.   Will they be successful....???  I doubt it.  BUT, there are some good people trying.  

I highly doubt the craigslist post was of any validity.   Put your self in the shoes of a group of investors trying to fix the problems...they would not post on Craigslist.  

Agricola1

Originally posted by orthotdh


I thought that I would mention that some investors are trying to clean up the mess.   Will they be successful....???  I doubt it.  BUT, there are some good people trying.  
I highly doubt the craigslist post was of any validity.   Put your self in the shoes of a group of investors trying to fix the problems...they would not post on Craigslist.  

 

Don't forget that Gary has sold alot of shares to alot of different people, he raised nearly $50 million through selling shares to multiple small investors. Not all got their share certificates, but this could be anyone of the plethora of CME shareholders lucky enough to posess a share certificate at this time. Either that or it's another one of Gary's scams, but certainly not any investors trying to fix problems.

Personally I doubt there are any investors trying to fix things at CME, CME is unsalvagable, these people are just trying to get their money back before Gary disappears with the swag. If there are investors trying to fix things at CME and launch SGW then they aren't doing a very good job of paying of debts owed by CME and getting the beta back up and running are they? Saving CME, it's like trying to save the Titanic. The ship has a massive hole in it and it will go to the bottom, it's merely a matter of how long will it take and can I get to the lifeboats in time?

Agricola1

Originally posted by morbiusv


Really who gives a fuck grow the fuck up . Your all a bunch of snitches and remember snitches get stiches, leave cme alone let them make the game so we have decent mmo to finally play. Tired of people posting shit aout small mmo companies trying to make a game . All they gotta do is say fuck the liscens change a few textures and dialouge called it FARGATE WORLDS! If algonon and runes of magic can get away wiht almost copying wow wihtout trouble cme can do it.

 

Sorry if I or anyone else touched a nerve there, but we aren't discussing the ownership of the license or questioning it in this thread in anyway. Also CME was not a small company for atleast 3 years, they had 200+ employees a $50 million budget and some of the best talent and biggest names in the industry. CME is far from a small time developer making an MMORPG in Tasos' grandma's shed!

Also assuming CME hadn't crashed and burnt and the only problem was the license they still couldn't change a few things and release "Fartgate Worlds". Why? Because the pyramid scheme (MMOGULs) depends upon a blockbuaster Stargate MMORPG being released. If he fails to do it and tells them it's all off and they're releasing a similar game but minus the Stargate IP then Gary will be facing lawsuits from his MMOGULs members that were sold their memberships on the promise of an MMORPG using the SG IP.

Gary is somewhere between a rock and a hard place, CME owes millions of dollars now to employees, courts, the taxman and investors. A small start up company would've never had the leverage to get that far into debt, so if it were a small company the chances would be a lot better right now.

EDIT: In answer to Aaron's question about the license I see no indication that CME doesn't still have it. MGM have given them many extensions in the past after missing milestones and I assume they've extended it again. It costs MGM nothing to sit and wait it out, although the people from MGM don't seem to believe CME has the ability to make SGW anymore. I'm assuming they're waiting to see if Gary can pull a rabbit out of the hat, if he does they make a bundle now thanks to the new deals Gary made in getting an extension. If he doesn't then they lose nothing except a little more crediblity in the computer games market.

ariccaron

Originally posted by orthotdh


 
I highly doubt the craigslist post was of any validity.   Put your self in the shoes of a group of investors trying to fix the problems...they would not post on Craigslist.  

 

I looked legit before it was removed, and the OP isn't one to throw rumors around.

Other shady public stock offers have been made, one famous one still has a webpage up.

Ponico

I think MGM needs to revoke the license and give it to someone else. It's completely destroying their possible gaming franchise.

 

Pugla

Originally posted by ariccaron 
I looked legit before it was removed, and the OP isn't one to throw rumors around.
Other shady public stock offers have been made, one famous one still has a webpage up.

I'll vouch for supremeaaron, too. I may not agree with the way he blindly supports CME in the face of a lot of scandal, but I have never known him to lie. He honestly loves the SG IP and wants a cool game to play.

Dracus

Originally posted by Kyriesunset


Did anyone get that guy's phone number?    Damn, I hate when I dont do screenshots. 
...

I just sent you a PM with it.

I didn't post it in the open due to that the number provided or even the person may not be the actual person who posted it.  It may have been that someone else posted the ad using the name and phone number of a person to get back at.

For example, if you wanted to annoy someone, send out an email or ad that you have some puppies you are going to send to the pound to be put down.  And then provide the contact information of the person you want to annoy.

This may not have been the case, but I have seen that played out before.

supremeaaron

Originally posted by Pugla

Originally posted by ariccaron 
I looked legit before it was removed, and the OP isn't one to throw rumors around.
Other shady public stock offers have been made, one famous one still has a webpage up.

I'll vouch for supremeaaron, too. I may not agree with the way he blindly supports CME in the face of a lot of scandal, but I have never known him to lie. He honestly loves the SG IP and wants a cool game to play.

 

Thank you Ariccaron and Pugla.  Honestly I wouldn't post anything without giving it a proper look over and thinking this would merit some looking into. I do indeed love the SG IP  and want this game to be the best it can be (not the best other games can be, I hate the idea of comparing new mmos to WoW etc.)

Agricola1

I think the best we can hope for is Gary calling it a day and closing down CME officialy, then having a real studio pick up the IP and develop SGW. SGW has the potential to put in place a zoning system that feels natural, similar to the early days of SWG when you had the starports to travel to planets. It's just under the leadership of Gary Whiting this game will never be the best it can be, it would be little more than a shallow one dimensional multiplayer CORPG with the one purpose of recruiting for his pyramid scheme MMOGULs.

I feel alot of people have a problem differentiating between love for the SG IP and desire to play an SG MMORPG no matter what the costs. I think we should face it that CME is an unprofessional company that has been poorly managed from the start, and despite a wealth of talent still managed to make rookie mistakes that cost millions of dollars and miss milestones consistantly. There are no developers feelings to hurt now, no one "working" there is doing any real developing, just popping up on the forums once in a while to make vague promises about what coulda, shoulda, woulda happened/happen in the past/future.

I salute you Aaron for having the sense to look stuff up and take an objective view on it and analyze it for what it really is. Perhaps you should convey some of these thoughts onto the official forums? Who knows it might prompt CME to actually give the fans some information that they've been waiting for, or maybe Khestral will start posting those screenies he every two weeks that he promised way back when? Although maybe it's best to just post here since they all read these forums every now and again, and people are allergic to non positive posting on the official forums. You know better than most how vicious the Wraithfull ... erm I mean faithfull can be when provoked

supremeaaron

Originally posted by Agricola1


I think the best we can hope for is Gary calling it a day and closing down CME officialy, then having a real studio pick up the IP and develop SGW. SGW has the potential to put in place a zoning system that feels natural, similar to the early days of SWG when you had the starports to travel to planets. It's just under the leadership of Gary Whiting this game will never be the best it can be, it would be little more than a shallow one dimensional multiplayer CORPG with the one purpose of recruiting for his pyramid scheme MMOGULs.
I feel alot of people have a problem differentiating between love for the SG IP and desire to play an SG MMORPG no matter what the costs. I think we should face it that CME is an unprofessional company that has been poorly managed from the start, and despite a wealth of talent still managed to make rookie mistakes that cost millions of dollars and miss milestones consistantly. There are no developers feelings to hurt now, no one "working" there is doing any real developing, just popping up on the forums once in a while to make vague promises about what coulda, shoulda, woulda happened/happen in the past/future.
I salute you Aaron for having the sense to look stuff up and take an objective view on it and analyze it for what it really is. Perhaps you should convey some of these thoughts onto the official forums? Who knows it might prompt CME to actually give the fans some information that they've been waiting for, or maybe Khestral will start posting those screenies he every two weeks that he promised way back when? Although maybe it's best to just post here since they all read these forums every now and again, and people are allergic to non positive posting on the official forums. You know better than most how vicious the Wraithfull ... erm I mean faithfull can be when provoked

I would probably get banned in the offical forums then lol. But if CME went who would take SGW? I actually have discussed this on many places since this trouble exploded back near Christmas last year and well I say if any company would take it it would be SOE or maybe MGM will use their MGM interactive studio (I have no idea if that department at MGM is still open).

Katilla

this doesnt seem that much different from mortal onlines strategy, charge people obscene prices for a "pre order" to let them into a beta and fund your game.

supremeaaron

Originally posted by Katilla


this doesnt seem that much different from mortal onlines strategy, charge people obscene prices for a "pre order" to let them into a beta and fund your game.

 

Except CME aren't doing what Mortal did since who ever had a brain at CME saw what Mortal Online did and realized it wouldn't be a smart decision to do that.