Thursday, April 14, 2005

Zann Corp

Capital Raised: $ 25.57 million
Capital Burned: $ 27.13 million
Previous Executive Compensation: $312,500 EACH for the Chairman and Vice Chairman in 2001

Zann Corp is another not so exceptional company that draws our attention only because of its President and CEO, Robert C. Simpson. Mr. Simpson, you may recall, is the gentleman who bought all of the Global Links shares after their reverse split.

You may also recall that Mr. Simpson expressed concern about the existence of an issue of preferred stock that Global Links might have that would block him from taking control of Global Links. It happens that Mr. Simpson had good cause to be concerned, for he is the owner of Zann Corp's Series C Preferred Stock. Not to be outdone by the piddling voting rights of Global Links' Series B issue, these "C" shares are entitled to one hundred votes per share for any matter brought to the common stockholders.

Mr. Simpson put those voting rights to good use on 2005 April 4. That was the day that it was announced that Zann Corp's articles of incorporation were being amended to increase the number of authorized shares of common stock from 11.4 million to 4 billion and to give permission to the board of directors to implement a reverse split of up to 1:350 over the next year.

The best part of this announcement can be found near the end.

"Dr. Simpson will have the power to approve the proposed corporate actions without the concurrence of any of our other stockholders.

WE ARE NOT ASKING FOR A PROXY AND YOU ARE REQUESTED NOT TO SEND US A PROXY. [The all caps is their emphasis, not mine.]

We appreciate your continued interest in Zann Corp."

Who could possibly continue to be interested in a company that so brazenly runs roughshod over their shareholders?

13 Comments:

Anonymous Anonymous said...

I ran into Simpson years ago when he attempted to suck me into investing 5K in a high risk medical research program he had. I smelled a rat, when he kept insisting that the current project was a sure deal and a gaurenteed sell that would be snapped up by cancer pros instantly. If that was true, he wouldn't have been bothering with my piddly 5k, he would have simply sold this brilliant innovation to a major corporation and made millions without the intermediary.

I was told by a reliable source that the research institute is a dump with dust an inch deep.

6:02 AM  
Blogger Joe Berenguer said...

This comment has been removed by a blog administrator.

3:09 PM  
Blogger Joe Berenguer said...

This comment has been removed by a blog administrator.

5:03 PM  
Anonymous Anonymous said...

It now appears that another not so ethical person is in the CEO post of Zann Corp David N. Weiker a known scoundrel is positioning himself to eradicate or dilute the shares of another company known as Platinum Properties of Central Florida Inc. Weiker has accepted deposit monies of enormous proportion from purchasers of vacation homes and has used the money in an irresponsable manner these customers have been waiting patiently for the past two years for their homes to be built Weiker has gone through their deposit money and is now trying to raise the money AGAIN through a reverse merger with Zann doesn't anyone monitor things like that to protect the public Weiker has a history of mis deeds and unscrupulous conduct including similar actions that have been prosecuted and found guilty in 1997 how do these scoundrals rise again to defraud the public isn't anyone watching out for us A SHAREHOLDER SCARED OF BEING CHEATED

1:58 PM  
Anonymous Anonymous said...

BEWARE of David Weiker, the guy is an incredible scammer...

6:33 PM  
Blogger Platinum Properties of Central Florida said...

July 30, 2006

This memo is in response to communications that have been published by the anonymous author as well as the anonymous broker. These communications have been published on the web as well as emailed to brokers and clients. This response is from the board of directors of Platinum Properties of Central Florida Inc.

The anonymous author is a past officer and past employee of Platinum Properties. The name of this author in question is Mr. Larry Maloney. Larry is a disgruntled and angry out of control ex-employee.

Mr. Maloney has been launching an attack on Platinum Properties and has been misinforming its clients, brokers, and the public in general. The following is to set the record straight about Platinum and Mr. Maloney.

Mr. Maloney was president of Platinum Properties up to November of 2005; Mr. Maloney managed the business as well as the finances of the business and controlled the destiny of Platinum Properties. During his tenure he mismanaged and acted recklessly in his decisions, both business and personal. His misdeeds put Platinum in harms way and the direction of the company became headed in the wrong direction. Mr. Maloney forged signatures on documents, filed bogus and false documents with the state of Florida in an attempt to remove officers from the corporation without their knowledge or consent. Mr. Maloney authored bogus corporate minutes. Mr. Maloney mismanaged certain assets of Platinum to assist individuals in receiving green cards by defrauding the U.S.Government with bogus business transactions. Mr. Maloney put Platinum in a precarious position when his conduct between him and a female employee could have led to a sexual harassment lawsuit. There are other transgressions that at this time cannot be put in this memo due to litigation between Platinum and Mr. Maloney. Mr. Maloney’s ineptness caused delays in Platinum moving forward in a constructive and consistent manner. Mr. Maloney did not have the experience or the knowledge of running a company in a construction industry. Even after his removal in November 2005, Mr. Maloney has continued to attack, conspire against, and cause harm to Platinum Properties. In November of 2005, Mr. Maloney was removed from the company & Mr. Weiker purchased the controlling interest of Platinum Properties leaving Mr. Maloney with a small stock position in the company. Mr. Maloney has been offered two million dollars for his minority position but he has consistently turned it down. Mr. Maloney appears to be is more interested in the downfall of Platinum than he is in accepting the offer and moving on. An example of his misinformation is his insistence that the DPBR of Florida is pursuing Platinum. The truth is the DPBR does not have any open file or any ongoing investigation concerning Platinum Properties. However, the truth is that there is an active file open on Mr. Maloney. He is being investigated by DPBR.

After his removal in 2005 it was apparent that he was going to take a personal vendetta against Platinum and its Board of Directors. Over the past four months Mr. Maloney, Mr. Grimaldi, Mr. Jim Young and Eagle Bay Construction have conspired to put direct harm on Platinum Properties going as far as to slander Platinum and file a bogus law suit claiming an interest in Platinum. This group joined forces to dissimilate false information and slandering title on Millbrook Manor and Winslow Estates. This ongoing attack has delayed construction by 5 months. Millbrook Manor is currently under construction with the infrastructure and horizontal development. It has been very difficult to work through the hurdles that Mr. Maloney has thrown in Platinum’s path to derail progress. Mr. Maloney has no desire other than to put Platinum in a position to fail. What Mr. Maloney does not understand that his ongoing actions carry heavy consequences to which he will be held accountable. Platinum is in the process of preparing a lawsuit against Mr. Maloney to recover the damage caused by his slanderous and illegal activities.

On the weekend of June 24th, the police apprehended Mr. Larry Maloney for being in possession of a vehicle that was reported stolen. This automobile was an asset of Platinum’s and Mr. Maloney had refused to return the vehicle despite repeated requests. After this incident Mr. Maloney increased his slanderous and devious attacks in order to seek revenge. Mr. Maloney left a voice mail stating that he was going to make life as miserable for Platinum as his life was. Mr. Maloney for the record has threatened violence against certain officers of the corporation in retaliation. He has left communications stating that he will take Platinum down.

The truth is Platinum is battling a vindictive hateful disgruntled employee who will resort to any conduct, including lying, to achieve his goal of hurting Platinum; it’s 700 plus clients and the future of Platinum. We cannot control Mr. Maloney’s conduct – we can only share the truth to those affected. We must rely on the good sense and the intelligence of Platinum’s clients, brokers, associates, and business partners not to buy into the lies and deceit and the slander that Mr. Maloney is propagating in a vengeful manner. Mr. Maloney will be held accountable in a court of law for all of the damages that he has caused.

Through all of this, Platinum is not only surviving, it is successfully fulfilling the task of completing 700 plus homes, installing infrastructure and being able to start homes in Citrus Gardens in the very near future. Infrastructure will be completed in two to three weeks. Millbrook is currently in the infrastructure development phase. Rest assured Platinum will get the job done and every client can rest assured their home will be finished. All is well on that front. If anyone is contacted by Mr. Maloney, please contact Platinum immediately.

Respectfully Submitted,



Platinum Properties of Central Florida

1:01 PM  
Blogger Jeff Huber said...

I too was scammed by this long running pyramid investment scam. The sad part is, my uncle--who was my late mother's favorite brother--is the one who suckered me into it.

Simpson and his associates have along history in this business, and have profited handsomely from it.

Lamentably, as best I can tell, they're covered by the same lobby influenced laws that protect the family behind Amway.

2:47 PM  
Anonymous Anonymous said...

I have held onto 100,000 shares of ZNNC and watched the "pump and dump" routine of Simpson. I just hope Weiker has some ethic about him.

8:35 AM  
Anonymous Anonymous said...

Anyone who real estate agent tht broguht a client to Platinum Porperties should have their license revoked. David Weiker appears to be a Scam Artist.

7:17 AM  
Anonymous Anonymous said...

All Agents selling properties on behalf of Platinum Properties should be aware , Platinum Properties are taking Home Buyers Money , then refusing to build their homes.
Buyers should also be aware of Geoff Dodd, Geoff Stinker, Real Estate Brokers FCH Realty another bunch of English CowBoys , taking deposits from Buyers and spending the money.
2 Companies to watch.

BUYER- CLERMONT

8:43 AM  
Anonymous Geoff Sinker said...

Hi mr Anonymous

If you are so sure why not print your name.

I think someone needs to sell you a set of balls because you clearly dont have any.

Why not come and talk to me direct I live in Clermont also?

Or can you only call names from the internet.

Typical internet pussy all the mouth when hiding,

9:07 AM  
Anonymous Anonymous said...

But its true Stinker, you are a crook and always will be. I bought a home back in 2002 and came to see you. The next broker I went to refused to deal with me until i denounced any business with you.

The year after, I read a long message on a forum detailing your lies and deceit and how so many buyers want your head on a block.

Your a nasty piece of work Stinker, a car salesman from England, same league as that Kevin Lumb fella. Out and out peddling crooks ..

6:39 AM  
Blogger GLS Property Services S.A. said...

I take it all you can do is call names. A broker who wanted you to denounce, I dont think there is a broker in Florida who actually knows what that means. You sure he didnt just want all that lovely commission on offer to himself.

No balls cant even have the courage of your convictions to say who you are.

I know I am not a crook but you will always be a fool. I bet that other Brooker saw you coming!

6:50 PM  

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