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Don't Buy This Piece of Sipp (SIPC)

May 9, 2011:  "SIPC soars up to 819% Today!", exclaimed Epic Stock Picks in a Thursday email to subscribers just hours after Epic and its twin sister, Stocks Gone Wild, had pumped SIPP Industries Inc. (SIPC) in identical emails to those very same subscribers.  What they didn't tell you is that the stock closed up just 163% with a grand total of $88,000 worth of trades, at an average trade of about $250.  This classifies this pump and dump as a complete failure.

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Buyers headed for the the exits within an hour of receiving word of the camouflaged Ponzi scheme and the next day only $8,000 worth of stock traded.  Due to all the emails we received from subscribers thanking us for the alert we issued just 5 minutes after Epic and SGW disseminated their pumping emails, we are taking full credit for this failure.

In an April 27, 2011 press release, which followed an almost 3 year generally quiet period, SIPC announced "merger candidate", Palm Beach Specialty Coffee, LLC.  We're not sure what a "merger candidate" is, but if one is going to announce a "candidate" over an actual merger, why not announce Starbucks as that candidate?  This is the second time in 6 months that SIPC has indicated that a reverse merger was forthcoming.  Back in October 2010, SIPC was supposed to be taken over by Cooper & Porter, a Florida based company purportedly in a liquor related industry.  SIPC never released word as to why that reverse merger failed.

The press release goes on to say that PBS Coffee was acquired by new management from a retiring Florida owner and was relocated to Toronto, Canada until visa documentation can be obtained to relocate back to the USA.  We call BS.  If PBS Coffee was any sort of significant entity whatsoever, the company would not have had to be relocated even if the new owner was in Canada.  The new owner might need a Visa to be allowed into the States, but assuming this is not a one-man show, there is no reason why the US company cannot be owned by a Canadian.  When In-Bev bought Anheuser Busch, they didn't relocate the brewer of Budweisser to Belgium, did they?  And if PBS Coffee is a one-man show, then it is certainly not a significant "merger candidate", is it? 

Well coincidentally, we had one of our investigators in Toronto on Friday to look into another sham.  So we sent him on the trail to sniff out this Palm Beach Specialty Coffee.

As of the time this advisory, the website listed in the press release,, identifies the company as "Palm Beach Coffee, Inc." not "Palm Beach Specialty Coffee, LLC".  Do these guys even know what the name of their merger candidate is?  So we decided to try and find which was the actual name.  Turns out that the answer is neither.  The April 27 announcement claimed that the company had been incorporated in Florida in 2002.  The Florida Secretary of State has never heard of either "Palm Beach Specialty Coffee, LLC" nor "Palm Beach Coffee, Inc.".  Ladies and Gentlemen SPIC is lying.

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So the merger candidate's own website listed its physical address as 3575 - 14th Ave. Unit #12, Toronto, ON, L3R 0G9.  Sorry Charlie, but this is not a Toronto address.  Anybody who knows anything about Canadian Postal Codes can see this right away, as Toronto codes all start with "M" not "L".  This address is actually located in the Town of Markham, north of Toronto.  While Markham is a perfectly nice little town, it does not carry the cache of Toronto.  We checked all the neighboring businesses and not one of them listed their address as Toronto.  One even told us that if someone addressed mail to them as Toronto, it would be returned by the post office.

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Anyway, off our investigator goes to Markham.  This address is located in an industrial park type area in a strip-mall type building and  the building's marquee makes no reference to Palm Beach anything.  In fact, no tenant is listed in Unit 12 at all.  A call to the landlord does confirm, however, that one guy has been there for a year selling coffee makers.  The tenant apparently did not want signage nor a marquee listing?  Hmmmm.  We ask him for the tenant's name and our fears are confirmed.

The building's Unit 12 has an empty store front window and absolutely no signage.  The doors were locked and there was nothing to see but a table in the front room with some magazines on it.  Nobody came to the door even after 10 minutes of knocking.  Our investigator asked the neighbors if they had seen anybody go in and out of the unit and one said that he did not even know who was in there and what business was being conducted.  Another said that he had only ever seen one guy go into the unit over the last year but did not know what business, if any, was being transacted.

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So our next logical step was to look at the name of the person registering the website.  That person turned out to be one Sender Vaiser, whom the landlord confirmed to be the tenant in Unit 12.  We knew we've heard that name before but couldn't quite place it right away.  We sent our investigator to the address under which Mr. Vaiser registered the website's name, 12000 Yonge Street, Richmond Hill, Ontario, which is about 20 miles north of Toronto.  It gets ugly from here.

This is 12010 Yonge Street, Richmond Hill, Ontario.

This is 12000 Yonge Street, Richmond Hill, Ontario.  The next property's address is 19060 Yonge Street.

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Then we remembered who Sender Vaiser is.  Mr. Vaiser previously ran a pump and dump called Hat Trick Beverage (HKBV) that was suspended by the SEC for running spam email, pump and dumps schemes.  Like Pam Beach Coffee, HKBV was moved to Toronto when Mr. Vaiser took over and suddenly started datelining its press releases "Toronto, Ontario" rather than "Encinitas, CA" without explanation to its shareholders.  Of course Mr. Vaiser claimed to know nothing about the schemes.  Interestingly, HKBV also claimed to be in the hot beverage business as did another failed Sender Vaiser venture, Escamatic International Ltd.  Mr. Vaiser was also involved in repeated pump and dump scheme, Hiru Corporation, also at the time in the beverage business and just as uncoincidentally purportedly based at various times, out of Toronto.  Perhaps Mr. Vaiser needs to find a new line of business to pump and dump.  He doesn't seem to be very successful at the coffee business.

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Bottom line is that Mr. Vaiser struck a deal to purchase the SIPC shell on the come.  In other words, if he could raise the funds through a pump and dump of the SIPC stock, he could have it.  This is why Palm Beach Coffee is a "merger candidate" rather than a de facto merger.  Now that the pump and dump has failed, largely thanks to us, we wouldn't be surprised if this intended reverse merger fails like the Cooper & Porter deal.

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