January 29, 2013: This one is comical. SIPP Industries (SIPC), one of the very first Pump & Dumps we profiled in an advisory back in May 2011, is finally back to its old tricks. The old empty shell, pretending to be productive, was a scheme back then that was concocted by Pump & Dump incubator Mina Mar Group. We haven't heard much from MinaMar lately, so they may be scaling back their losing operations and they may or may not still be involved in what is one genuine piece of SIPP.
Back in May 2011, we reported a visit to SIPC's new headquarters in Toronto where we found that the company barely existed, if at all. We reported that PalmBeachCoffee.com, SIPC's highly touted acquisition was run by Sender Vaiser. Mr. Vaiser was famous for the old Hat Trick Beverage (HKBV) scam and his involvement in the even bigger Hiru Corporation (HIRU) bust.
We wondered aloud who in the world would buy this stock? Very few did. We still have the same musings.
Mina Mar, countered our substantiated article with their own unsubstantiated blog entry, in which they maliciously accused us as "veiling" ourselves as a public service, and issuing an alert with "unsubstantiated claims, attacking SIPC". We also laughed at the unmitigated gall, the stock pimp had in referring to us as pimps. We sell nothing. Mina Mar promotes (promoted?) and sold worthless stock. To demonstrate our case in point, let's look at excerpts from Mina Mar's blog entry:
"SIPC management is trying to reach PIMP but the company is hiding its online identity. SIPC management expects reply and action from the originators of this article. If reply and rescission of the article are not achieved shortly, the company shall employ a private investigator to determine the origins of the article and proceed accordingly."
Neither SIPC nor Mina Mar tried to reach us. We are very reachable, by email, as many other subjects of our articles have done so. We have never, ever received a single email from anybody in reference to our SIPC advisory. It would have been fruitless anyway because we do not back off the truth. And of course we never withdrew the article and a private investigator was never retained to find us.
"We believe that the PIMP [read: pumpsanddumps.com] should afford this company at least 90-120 days to get its ducks in order and then revisit their public service announcement." Well 20 months later, SIPC is still reporting no revenues, no assets, but a whole bunch of new stock (almost 470 million shares) that is ready to be dumped on to the street.
Apparently, SIPC hightailed out of Canada and has once again relocated back to the USA, this time to Nevada. And while the not-for-profit PalmBeachCoffee.com website, which SIPC still claims to own, is still registered to a suburban Toronto address, the new "CEO in transition" is William Von Lieberman. We are not certain, but this could be the same William Lieberman of the famous Fox Petroleum (FXPT), Trilliant Exploration Corp.(TTXP) and Mammoth Energy (MMTE) scams. If it is, head for the hills. If it's not, head for the hills anyway.
So almost two years after SIPC's last great merger, the company announces the earth shattering news of a new merger with Spectre Worldwide Corp. a tequila producer that nobody has ever heard of, but is designed to enrich its masters with the ill-gotten booty that the Palm Beach Coffee merger was unable to provide.
All the warning signs are there. This pyramid won't take long too collapse. Watch out!