Swingplane Ventures (OTC:SWVI) Gets Its Turn – Things You Need to Know
Swingplane Ventures (OTC:SWVI) was rumored as a possible Awesome Penny Stocks (APS) pump in November 2011. Instead, APS tried to pump Superior Venture Corp (OTC:SVEN), which was a complete flop, but now it’s SWVI‘s turn and it looks like it will be a real burner.
Yesterday the pump was officially announced to free subscribers. SWVI dominated the OTC market, closing up 70.33% at $0.2899 per share. The volume reached 88.4 million shares.
Let’s take a look at the history of SWVI. The very inception of the company is raising red flags. The initial S1 form shows Clifford Hunt as the agent for the service and the prospectus had been audited by none other than Peter Messineo. Both these gentlemen were involved with SVEN, and Mr. Messineo was also involved with Pacwest Equities Inc (PINK:PWEI).
After sifting through what can only be called sloppy filings, one can see that the company was created in 2010 and was actually a shell run by a Matthew Diehl who has some shady connections himself. He owned all 10 million of the outstanding shares (OS) of SWVI until September 6, 2011.
Then the company sold 3.5 million shares for $35 thousand to an unknown number of unnamed “investors.” Traders should note that at the time the company wasn’t doing a thing. Things didn’t change much until May, 2012 when the company effected a 35 to 1 forward split. It left Mr. Diehl with 350 million shares and the unnamed investors with 122.5 million shares
Later, on Aug. 22 all of Diehl’s shares were sold for $35 thousand to the current sole officer of SWVI, Michel Voyer, and Diehl resigned. On Nov. 2 Mr. Voyer sold 2.5 million shares to a Johannes Lindorfer for $250. Mr. Lindorfer was appointed as a member of the Board of Directors of SWVI three days later.
Innitially, Mr. Lindorfer was said to hold a Ph.D in Geology at the Innsbruck University. Then it turned out that he actually had been granted Ph.D candidate status, but he hasn’t completed the degree.
The most recent development is an agreement that calls for SWVI to acquire all of the shares of a Mid Americas Corp. SWVI had a previous agreement from Oct. 15, but it was renegotiated. The new conditions require SWVI to issue 100 million shares of common stock and 5 million shares of preferred stock to the shareholders of Mid Americas. Each preferred share can be converted into 50 common shares.
Additionally, Mr. Voyer has cancelled 337.5 million of his shares and now has 12.5 million shares. After the transaction is completed it may effect a change in control, and thus it’s actually a reverse merger. SWVI is supposed to file a Super 8-K at the closing of the transaction, but at this time the public has no real knowledge what SWVI will have in the way of assets.
It’s not clear whether SWVI will actually bring any profits for those who chose to invest. Keeping in mind its history and the history of APS, it seems doubtful. However, the unnamed investors who bought shares back in 2011 are already looking at hefty profits.
On a post-split basis they held 122.5 million shares between them. They acquired them for $35 thousand or approximately $0.00028 per share. At $0.2899 that’s about $35.5 million. Since all the rest of the shares are held by insiders, and they can’t legally sell them without filing a Form 4, all the traders and investors have to be buying their shares, making them millions of dollars out of thin air.
We are fully aware that some will call us bashers again, but we strongly urge our readers to do the due diligence before throwing any money at SWVI, or any other APS pump job.
