No one associated with Climateer Investing (in fact, no one I know) has a position (long or short) or financial interest in Planktos, never have, never will.
From the New York State Attorney General's Report on Microcap Stock Fraud:
Asked to reflect on his life as a swindler and a mobster, Charles "Lucky" Luciano confessed that, if he could, he would change just one thing: "I'd do it legal," he said.
"I learned too late that you need just as good a brain to make a crooked million as an honest million. These days, you apply for a license to steal from the public," Luciano said. "If I had my time again, I'd make sure I got that license first."
The report also has this line:
Robert James Laws (a/k/a Russ Adams, Mr. Nighthawk), had once held a Series 7 broker license....
I hope you understand why I get such a kick out of this stuff.
On to Planktos.
They've hired a P.R. firm and Weber Shandwick it ain't.
Here's the tout:
Global Warming Inc.That's what Wall Street Insiders will call
Planktos Corp., as sales of its Carbon Credits
send it soaring from $1.25 to $30!
Scroll all the way down, they go on to say:
Check with http://www.nasaa.org or call your state security administrator to determine whether a particular security is licensed for sale in your state.
Desiring to emulate their helpfulness, here's the website for the RCMP, the SEC's Enforcement Division and here's the Comision Nacional de Valores de la Republica de Panama.
The ad ends by saying:
CFM has received and managed a total production budget of $250,000 for this online advertising effort and will retain any amounts over and above the cost of production, copywriting services, mailing and other distribution expenses, as a fee for its services. Groundfloor Stocks is paid $10,000 as an editorial fee from CFM and also expects to receive new subscriber revenue as a result of this advertising effort.
Planktos reported revenues of $0.00 in their last 10Q and had cash assets of $238K.
Planktos has a market capitalization of $90,000,000.
Update: the President of Planktos disclaims any part in procuring the advertisement touting his company's stock: see post above "An Email from the President of Planktos"
This is curious enough that, perhaps, a body with subpoena power should take a look at the promoters, brokers, PR guys and deal men involved.
Just, you know, to clear the air.
