Liquidating distribution to c corp shareholders
That means most of the shares in the market had to have come from the former Mesquite Mining stockholders — an explanation Griffin did not dispute in an interview with Sharesleuth..
“If you’re going to build a company, the liquidity’s got to come from somewhere,” he said. Corporation filings list Derek Carbajal as its president.
For the past month, Mesa’s trading volume has averaged well over 1 million shares a day, thanks in part to web sites (see examples here and here) and printed brochures that have been touting the company and its prospects.
Mesa also sought to boost its visibility and credibility by appointing former New York Gov. Pataki as chairperson of its recently established advisory board.
Spano and former New York City environmental official Robert C. Mesa said in an SEC filing that it granted Pataki an option to buy 224,000 of its shares, at an exercise price equal to the market price on the day he signed his agreement.
Until last week, Pataki was viewed as a likely Republican candidate for the U. Senate seat now held by Democrat Kirsten Gillibrand.
Each sold an identical amount of stock, at an identical price, to investors that wound up owning a substantial stake in the combined company for a minimal amount of money.
Kentucky USA’s stock more than doubled in the month following the completion of its reverse merger.
Collectively, their holdings represented a 36 percent stake in the company.Barron’s reported last year that federal prosecutors in New York were investigating whether Gottbetter and an associate manipulated the shares of another of his reverse-merger clients, Alternative Energy Sources Inc. Gottbetter denied the allegations, calling the story a “hatchet job” in a written reply to that publication.MESA’S BUSINESS Mesa, which has been in business since 2003, has oil and gas holdings in New York and Oklahoma.Sharesleuth noted that the efforts to promote Mesa’s stock involve several individuals or firms that have previously appeared in our investigations.The latest version of one of the brochures, produced by newsletter publisher Jarret B.