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David Marchant on CNN.com

CNN Video on Offshore Tax Havens

CNN's The Situation Room, which is presented by Wolf Blitzer, broadcast a piece on Offshore Tax Havens, with a specific look at Ugland House, home of Maples and Calder law firm, in the Cayman Islands, on Friday, July 25, 2008 and includes an interview with David Marchant, publisher of OffshoreAlert. 2:20

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To celebrate OffshoreAlert's 100th EDITION we have made the latest edition of the newsletter available to the public for FREE!

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anyone know anything about ' The Baladore Group' ?
By baddogone0 on 12/17/2003 7:39:45 PM

E-mail: tryals@angelfire.com

Do they have any connections to Balmore S.A. or Celeste or offshore pumper dumper James Dale Davidson ?

Mr. Tom Baudhuin
U.S. Securities Exchange Commission
Enforcement Division
Ft. Worth, Texas

Dear Mr. Baudhuin:

This letter is further to my today's telecom and substantiating a earlier telephone voice mail made to Barbara Ray of the Enforcement Division on or about December 8, 2003 when I called to notify the Commission that I had expressed concerns as the Chief Executive Officer of Endovasc Inc., (OTC BB ENSV) over potential violations of the 1932 Act, and particularly the Sorbannes/Oxly Act within my Company. I have been particularly disturbed over an Agreement between Endovasc, Inc. and The Baladore Group of Phoenix, Arizona which was acting as a Broker/Dealer in our securities to foreign nationals and/or exempt U.S. citizens. Of particular concern was the deal itself which carried a 50% discount to the Company but according to my Board of Directors was the "best we could do under the circumstances." The major concern was a continued drop in our stock price although I was assured that stock sold under Regulation S was restricted for one year, and the price drop was not the result of shares coming back in to the Country in circumvention of the Regulation. I instructed CFO and his assistant to request a random sampling of the subscribers to ascertain and validate some degree of verification, no action was taken was taken that I could physically verify. I instructed my CFO and his coordinator to terminate the deal during a telephone conversation I made from Rome while presenting at a medical conference on or about November 26, 2002. I followed up with a face-to-face meeting the next week in my office upon returning from Europe. I was assured that no more shares would be sold. One week later I was presented with a sign-off form from Baladore that represented that more shares had been sold and in order to be reimbursed by Baladore, I was put into a compromise with my instructions. I signed for reimbursement for the additional shares that represented about 200,000 shares, then terminated the CFO's coordinator, who was handling the logistics for the current CFO.

I called a meeting of the Board of Directors during the same week and asked for the resignation of the CFO. It had been disclosed that not only was the CFO paying himself cash and shares through his own private company which had been represented as a public accounting firm in the past, but was actually a family property trust administered by Mr. Cantrell for and on behalf of numerous family members. During the meeting, I teleconferenced the opinion of our securities counsel, Mr. Larry Wilson, Esq who confirmed to Mr. Cantrell that his actions and inability to perform as CFO had put the Company, its directors and Shareholders in grave risk. Upon hearing advise from Mr. Wilson, Mr. Cantrell told the Board,..."if my actions have put the Board and the Company into risk, then I WILL resign." He then asked for the weekend to consider his options. In order to accommodate this request the meeting was recessed until Tuesday, December 16, 2003.

On Tuesday, Mr. Cantrell and Ms. Dottavio presented themselves to the meeting. They were accompanied by Judge Ken Reilly and one of his police officers, (Officer Whitehead?). Mr. Cantrell asked the chair if he could have the floor stating that he not only would he not resign but made a motion to remove me from the Chair and my position as CEO. Obviously a takeover plan was in effect and Ms. Dottavio had prepared herself to cooperate with Mr. Cantrell's wish.

Judge Reilly then ordered me to hand over my keys, electronic pass card, and to empty my brief case in the presence of Ms. Dottavio and the Officer.
I asked to return to my office in order to get advice of counsel, Mr. Wilson, who advised me to cooperate with the Officer. Not wishing to disturb the peace with an objection to this illegal act, as well subject myself to further abuse and humiliation I complied and both the Judge and the Officer escorted me from the building.


To summarize, not only was this entire affair a blatant attempt to distract me from my mission to served the Shareholders best interest, but was a conspiracy of deceit perpetrated with an act of judicial oppression, upon the Shareholders by an incompetent CFO and Director with direct conflict of interest in holding both positions. My services to the company are indispensable at this moment in time, and my absence from the Board and Chief Executive decision making puts the Company and its shareholders at risk and irreparable harm. My sole mission as founder, CEO, Chairman and major stockholder in this company is to put in place corporate governance that is congruent with the Sorbannes/Oxly Act, SEC, the laws of the State of Nevada and the Charter and Bylaws of the Company in order to continue toward the goal of returning maximum investment to my shareholders share value. This mission is being obstructed by two Directors who have either obstructed these attempts or are incapable of performing the duties required by the above.

I have advised my Auditors and my SEC counsel of my investigation. I have recited by assessment of potential violations of the Act and requested an exceptional audit on share sales. Whether or not this will take place is now in the hands of the new CEO, Ms Diane Dottavio and the CFO, Mr. Dwight Cantrell.

Very sincerely yours.

ENDOVASC, INC.
Dr. David P. Summers,





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