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TMFBent (99.85)

New Stock Promotion: Go Solar USA

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June 24, 2010 – Comments (12)

cross posts from Hidden Gems board. I think people need to watch out for this one.

A Hidden Gems reader was wondering about a company, Go Solar, which is putting out a ton of PR touting some kind of technology that will allegedly combine power drawn from solar chargers (yawn, these exist, and they're not very good) as well as wireless LAN signal, in order to power cell phones.

Now, I would love to see the math on just how much power can be gathered by converting LAN radio signals into electricity and shoving it into a battery. My guess is it's about as much as I could generate by attaching a cricket to a treadmill and a dyno, or rigging up a coconut in the professor's hut, but we don't even need to go there.

This is a company which, according to its filings, has less cash than a paperboy's checking account. Best of all, it looks to me like it's being run by a failed Texas furniture salesman. Correction, a failed Texas furniture salesman who's paying himself $120,000 a year to run a company with no revenues -- at least if the filings are correct.

I could be wrong, of course, and I welcome any corrections. But this sure looks like the same Thomas G. Massey.

The conclusion I reach based on the evidence I can find is that Go Solar and Thomas G. Massey are entities to be avoided at all costs.

HG posts below:

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I won't go too far into the obvious here, which is that there's no such thing as free energy, so it's pretty tough to imagine one can generate a positive inflow of electricity by harnessing cell phone radio waves that are being created by the expenditure of energy by the same cell phone.

Actually, I see that this is supposedly about harnessing LAN wireless wave energy. Does anyone really think there's enough juice potential there to do much? I'm sure we have radio-wave experts in here who can weigh in on this more intelligently than I can.

I think this sounds like a complete scam, but on the off chance it's not, why would anyone believe this company could carry out a business plan of any kind? Where's the capital to carry it out?

Check out the last 10Q
http://yahoo.brand.edgar-online.com/DisplayFiling....

Check out the balance sheet. There's less there than in the average paper boy's checking account.
http://yahoo.brand.edgar-online.com/displayfilingi...

Income statement? There is zero revenue. Hmmm.

Also no management, no board, no nothing in the public filings.

I would recommend no one get anywhere near this.

Sj

 

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I've been trying to figure out who is behind this stock promotion, and that's what I believe it is, given the fact that this company has no operations, no board, no execs, and only one name, a Thomas, G. Massey.

The only Thomas G. Massey I've been able to find in the geographic area indicated for gosolar (New Orleans area) is a Thomas Galen Massey of Thomas Galen Massey inc, a bankrupt, Beaumont, Texas furniture hawker.

This is from capital IQ:


Thomas Galen Massey, Inc filed a voluntary petition to liquidate under Chapter 7 in the US Bankruptcy Court for the Eastern District of Texas in the Beaumont division on August 3, 2006. The company listed with no assets and debts of $0.71 million. The unsecured creditors include Ashley Furniture, Higdon Furniture, La-Z-Boy Greensboro Inc, Developers Diversified, Amini Innovation Corp, Bauhaus USA Inc, Keller Manufacturing, Berkline, Sam's Wholesale Club and Texas State Bank. It retained Frank J Maida as its debtor counsel for a fee of $2,000.

Deal Resolution
The US Bankruptcy Court for the Eastern District of Texas closed the Chapter 7 case of Thomas Galen Massey, Inc on December 27, 2006.


Here is what "Thomas G. Massey" says about himself (who else is writing if the company has no staff?) in the gosolar PR of june 19. I believe these are the same guy.

CSIQCanadian Solar Inc. NASDAQ-GMNEW ORLEANS--(BUSINESS WIRE)-- GoSolarUSA (Pink Sheets: GSLO) announced today that the company has installed Thomas G. Massey as its President and CEO. Mr. Massey is a proven corporate marketing leader and business development expert encompassing numerous successes in the east Texas business arena. Mr. Massey began his business development career by arranging an SBA organizational loan and founding a large multi-location retail operation in Beaumont and Webster, Texas. Mr. Massey built on this accomplishment by raising venture capital for a design firm and taking on the responsibilities as President to achieve numerous revenue goals for the Company. Mr. Massey then assumed the title of President and CEO of a prosperous retail venture that operated 5 retail stores and 2 distribution facilities in the Houston, Texas area.During his business tenure, Mr. Massey has accumulated unique qualifications in acquisitions & mergers, market identification, operations management, business development, sales leadership, loss prevention and contract negotiations. Mr. Massey brings with him a crisp vision to elevate the company to a cutting-edge leader in solar energy and technology.GoSolarUSA aggressively acquires, develops and markets the most promising and potentially profitable American technology possible. The GoSolarUSA mission is to manifest cutting-edge American solar technology and manufacturing advances to successfully compete in a global marketplace, which includes Trina Solar (NYSE: TSL), LDK Solar Ltd (NYSE: LDK), JA Solar (NASDAQ: JASO) and Canadian Solar Inc. (NASDAQ: CSIQ).About GoSolarUSA:GoSolarUSA identifies and develops new solar energy technologies in the United States. Our motto is “Invent it here, Build it here and Sell it to the World!” While green technology companies like wind and solar manufacture their products in China and Europe and import them to the U.S., we are focused on developing and manufacturing our products in the United States. We believe this not only creates high-quality jobs in America, but it insures the quality and availability of our products. GoSolarUSA is a US registered and reporting OTCQB premium market tier company.For more information, visit www.gosolarusa.com.Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.


Bottom line for me:

This looks like a typical penny stock scam, being run by a failed furniture dealer.

Beware.

Sj

12 Comments – Post Your Own

#1) On June 24, 2010 at 12:30 PM, obsoleteaccount (74.51) wrote:

how do stocks like this get underwritten?

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#2) On June 24, 2010 at 12:52 PM, TMFBent (99.85) wrote:

they don't. reverse merger penny with nothing going on. there are creeps who specialize in these deals, therby ensuring an endless supply of publicly traded companies with zero operations -- or close to zero.

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#3) On June 24, 2010 at 3:04 PM, TMFCrocoStimpy (93.64) wrote:

I know nothing about the company itself, but read some academic papers on the wireless power capture technology last year (still looking for the references) that would make me think that a company offering would be a bit premature.  The power conversion levels that could be obtained from high density wireless signals (think urban areas with heavy concentrations of wireless LAN and cellular) was such that a trickle charge could be set up to keep a phone from discharging while turned off, which is far from the claim of capturing enough power to actually charge a device that is powered on and able to receive a signal.  The so called "supplemental" solar panel would have to be relied on to provide the lions share of the power to maintain the charge of a powered on device unless a huge advance in the efficiency of wireless power capture technology has occurred, which seems a bit doubtful in such a short time period without any type of publication fanfare.

-xt

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#4) On June 24, 2010 at 3:21 PM, CuriousDonkey (59.02) wrote:

I sadly decided to take a completely asinine winger on this stock and I've lost 30%.  I put 1/10th of a typical purchase in on it and I've followed it closely so far.  Every PR announcement it pops and drops.  I'm setting my limit sell now to try to get back 5-10% of my loss and chalk it up to a lesson learned, which was frankly my intent.

 I, of course, did this without researching the company at all.  I took one look at the books and knew I'd likely been had and now it's my first lesson of needing to learn when to sell a loser...

 

Peace and grease,

 

The Donk 

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#5) On June 24, 2010 at 3:21 PM, CuriousDonkey (59.02) wrote:

I sadly decided to take a completely asinine winger on this stock and I've lost 30%.  I put 1/10th of a typical purchase in on it and I've followed it closely so far.  Every PR announcement it pops and drops.  I'm setting my limit sell now to try to get back 5-10% of my loss and chalk it up to a lesson learned, which was frankly my intent.

 I, of course, did this without researching the company at all.  I took one look at the books and knew I'd likely been had and now it's my first lesson of needing to learn when to sell a loser...

 

Peace and grease,

 

The Donk 

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#6) On June 24, 2010 at 5:39 PM, TMFBent (99.85) wrote:

Hey donk, sorry to hear that, but at least you did your gambling with a small position. Lots of us have taken big risks with bigger sums.

Seth J.

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#7) On July 05, 2010 at 10:36 PM, HongKongBob75 (< 20) wrote:

Donk!

 

Sorry to hear about your investment. Chances are this stock will not turn back. There are many similar games on pinks. Also be aware of stocks where people hype too much. So far this year I only found one good stock on the OTCBB, over $10 Million in revenues, offices in several countries etc. ICMC is the company, they dont have any "revolutionary" technology, just good product and good professionals. Good luck with trading. Do you own Due Dilligence before investing.

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#8) On July 14, 2010 at 3:49 PM, lukethomas13579 (< 20) wrote:

I am a relatively new investor in my first year of college, and apparently a lot more naive than I thought.  I stumbled on to GSLO about two weeks ago, and have been doing what I thought was reasonably thorough research on the company in the last two weeks.  I couldn't find anything on Thomas Massey beside his PR's from GSLO.  However, I finally figured out what the "small start up venture" PREE LLC, the company that supposedly created this breakthrough technology, was.  PREE LLC is six senior undergraduate business and engineering students at UT San Antonio that entered a competition at their school to make a business model and try and enact it.  

http://business.utsa.edu/cite/cite_techcomp.aspx   (That is a link to the site of the competition and there is a link to open the PDF for this years competitors where you can find all of the people in PREE)

I guess I should have realized something was fishy when I saw that these kids were the people that supposedly came up with this amazing technology, but I thought it was possible.  I even went so far as to look on these kid's facebook pages and thought it was even more strange when one of them mentioned something about trying to find a job.  Despite all this evidence, I still bought in to this scam, and bought the stock last night.  Luckily there was another PR from GSLO, aka thomas massey sitting alone in his basement cooking up bull crap, and the stock jumped up about 15% today.  I was researching more today when I found this article and was able to sell the stock and get my money back plus a little profit, but was still astounded that I had been duped by what now seems to me to be obviously a scam.  I was wondering how you were able to find the information about Thomas Massey and his bankrupt furniture company so i can try and avoid this type of naivete in the future.  Thanks a lot.

Dodged a bullet,

Luke 

 

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#9) On August 19, 2010 at 4:26 PM, doublearon00 (< 20) wrote:

I myself found my self fooled into this. The worse part is, I am an avionics technician that specializes in radio waves! AWWW!!!! Unfortunately for me, I bought it on the high end and out almost my entire investment. A HUGE rookie mistake! For now on, if it is not on the Motley Fool board, forget about it! 

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#10) On November 30, 2010 at 8:11 PM, bek203 (< 20) wrote:

I called J&R Electronics in Manhattan and they don't even have a sku for the product (peel 520).  Others have called and asked and they used to have one a week earlier for it apparently, now there is nothing and no planned ship date either...wondering if a lawsuit will come out of this one...not that there seems to be anything to get....

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#11) On December 09, 2010 at 5:04 PM, bek203 (< 20) wrote:

google "Tyson Rhode stock fraud" or Tyson Rhode fraud artist" and read the first letter that comes up from Google docs...that should answer any outstanding questions for anyone

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#12) On November 30, 2011 at 6:47 PM, KYinvest (< 20) wrote:

Dear GSLO investors:

I invested heavily in the GSLO stock last spring (2011) and did so based on the positive news being published by Tyson Rhodes, President of GSLO. Based on the news of GSLO's exclusive right to market the Volt solar charger and the growing popularity of the iphone, I felt I was making a good investment in this company. However, in June, trading activity of this company stock was frozen by the SEC due to questions about the adequacy and accuracy of publicly available information reported by this company. I feel this company is responsible for my losses since it put out fraudulent information about its products. I have spoken to a lawyer and have been encouraged to team with other GSLO investors who want to recover their losses. My plans are to file another claim with the SEC and get a group of investors putting pressure on the SEC to further investigate GSLO/Tyson Rhodes for stock fraud. I need your help and support to do this though. Please contact me if you are interested in filing a complaint with me against GSLO. It will be a long process but we have to start now. It's not right what GSLO did and I will not rest until I haved done all I can to regain my losses. Any help would be greatly appreciated.  Thank You.

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