Greg Riches to Rags

greglove · 1 Greg Riches to Rags Thu Feb 17, 2011 10:03 pm

greglove

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The Colombo stock market seems to be booming with many IPO’s in the pipeline. I am not sure if there are any criteria for directors of such listed companies. I have done some research on Environmental Resources PLC (GREG) . This company seems to be quite fascinating.

Gregory Scott Newsome- Following is what ERL website states

Financial and Legal Standing

1) Bankruptcy filling 2008 ( To be verified) http://www.trollerbk.com/bankruptcy/D40CDE19-FC3C-79A8-5BF3BA566F88710C/bankruptcyrecord/

2) Criminal Record (To be verified) http://webapps6.doc.state.nc.us/opi/viewoffender.do?method=view&offenderID=605310

Yenom Inc which Scott Newsome is CEO has no functioning website. The domain www.yenominc.com is owned by

Domain name: yenominc.com

Registrant Contact:
Stockwatch, Inc.
7231 Windermere Dr.
Mechanicsville, VA 23116
US
Administrative Contact:
Stockwatch, Inc.

Olancom is a company ERL purchased

Olancom Website (http://www.olancom.com) mentions the company started in 2000 and started roomsnet.com in 2005.

However the Olancom domain was registered in 2010. I would be a record for technology driven company to operate 10 years without purchasing a domain.

Domain Name: OLANCOM.COM
Registrar: GODADDY.COM, INC.
Whois Server: whois.godaddy.com
Name Server: NS22.ROOMSNET.COM
Name Server: NS23.ROOMSNETBOOKINGS1.COM
Updated Date: 26-apr-2010
Creation Date: 24-mar-2010
Expiration Date: 24-mar-2011

The question here is how much did ERL pay for the acquisition. What was the valuation and what was the valuation method used for purchase?

I was trying to find the valuation method used for Olancom. IT company valuations can be easily manipulated.

Who started Olancom which owns all of ERL tech companies including

1) RoomsNet
2) Enterprice Teclnology.

All in all it seems the strategy is

Create company A >Sell > Company B>Sell Company C
Company A > Buy Company D > Sell Company C

Last edited by Quibit on Thu Feb 17, 2011 11:07 pm; edited 1 time in total (Reason for editing : Format Condensed)

smallville · 2 Re: Greg Riches to Rags Fri Feb 18, 2011 8:41 am

smallville

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Seems like u've done some research..
Frankly I was really trying to understand how this can be arranged in a more meaningful way..

What I wanna emphasize is that; if you arrange this is more concise way, this would've been a wonderful one in deed.. so y why dont u do the needful and make everyone happy? Very Happy

greglover2 · 3 GREG DRAMA Fri Feb 18, 2011 3:07 pm

greglover2

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The Colombo stock market seems to be booming with many IPO’s in the pipeline. I am not sure if there are any criteria for directors of such listed companies. I have done some research on Environmental Resources PLC (GREG). This company seems to be quite fascinating. I have listed a few of my findings below. I am continuously probing their transactions and will post what I find.

1) About Gregory Scott Newsome Director of ERL (GREG)

Financial and Legal Standing

A. Bankruptcy filling 2008 ( To be verified) http://www.trollerbk.com/bankruptcy/D40CDE19-FC3C-79A8-5BF3BA566F88710C/bankruptcyrecord/

B. Criminal Record (To be verified) http://webapps6.doc.state.nc.us/opi/viewoffender.do?method=view&offenderID=605310

2) Scott Newsome is CEO on Yenom which is known as Yenom and Yenom ASIA in addition to being a director of GREG.

a) Since Newsome claims to be a Electronic trading professional he would very much know the importance of a website. However this company has no working website.

b) Yenom.com though claimed to be owned by Yenom INC is actually owned by a company called “Stockwatch Inc “ Details Below

Domain name: yenominc.com

Registrant Contact:
Stockwatch, Inc.
7231 Windermere Dr.
Mechanicsville, VA 23116
US
Administrative Contact:
Stockwatch, Inc.

3) Purchase of the so called tech companies. They actually purchased Olancom and Roomsnet came along with it. I found some interesting stuff here.

Olancom.com details are as follows
Domain Name: OLANCOM.COM
Registrar: GODADDY.COM, INC.
Whois Server: whois.godaddy.com
Referral URL: http://registrar.godaddy.com
Name Server: NS22.ROOMSNET.COM
Name Server: NS23.ROOMSNETBOOKINGS1.COM
Status: clientDeleteProhibited
Status: clientRenewProhibited
Status: clientTransferProhibited
Status: clientUpdateProhibited
Updated Date: 26-apr-2010
Creation Date: 24-mar-2010
Expiration Date: 24-mar-2011

The company was created on 24th March 2010. The company was purchased by ERL (GREG) on 30th June 2010.

We are currently tracking transactions of GREG and would keep you guys posted. Its quite a complicated strategy they use to cover tracks and show mega profits. The evidence we hope to come out with seems simple but shocking.

.

anu · 4 Re: Greg Riches to Rags Sat Feb 19, 2011 10:22 am

anu

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Very very valuable and timely research....

As it is pretty evident upto now, government or regulators will not do any thing to uncover the folly of this so called conglomerate run by whiz kids. It is only some private firm or individuals need to do in public interest, sometimes risking their life....