the OTC .today

"Big Money Mike" Ready to Throw Followers
Under The Bus Yet Again With His CNCT Pump


Fraud, fantasies and sleight-of-hand punctuate the "King Kong Alert" as Big Money Mike Colludes With China Teletech Holding, Inc.

April 17, 2015: "Big Money Mike" a Twitter-based nutjob and thief who has compiled well over a million followers of his Twitter feeds--most of who have been presumably bought through such services such as this-- has "leaked" his next alert to his email followers.

If you haven't heard, BMM is now pumping China Teletech Holding, Inc. (CNCT), a ticker with a well-established history among the Pump & Dump crowd.  BMM's campaign marks the sixth time CNCT has been promoted since December 2012. Past campaigns have devastated participating pigeons to the tune of millions of dollars.

CNCT Past Performances (abbreviated) <click to enlarge>
Misinformation

The email is full of blatant and outright lies, underscored by BMM's usual trailer-trash language.

Excerpt From Big Money Mike's Email Pump of CNCT
Immediately, BMM starts out with a deception. He displays the OTCmarkets information page, which is out of whack at the best of times.  OTCmarkets relies on company management to keep this information up to date, some of whom are quite diligent about doing so.  Others, especially those designed to deceive, do not. In the meantime, had BMM quoted the FACTS found in the company's actual SEC filings--like any analyst with any integrity whatsoever would, he would have reported the truth: there are in reality 147,213,776 shares outstanding a 60% increase over the eight month number, and that alone should set off red flags all over the place. This number was reported by CNCT in both its April 15, 2015 and November 18, 2014 filings. Eventually, BMM may apologize and claim he made an error, but it would require an immense amount of stupidity to make that error and BMM isn't that stupid.  He's smart enough to know how to steal the public's money.

Steal?  Oh yes!  This alert was well front-loaded over the period of the last several weeks, after months of near dormancy in the trading of CNCT. Additionally, if insiders are complicit with BMM's scheme, who knows how many insider shares were acquired by him.

CNCT Trades and Closing Prices Over the Last Month
The previously dormant status of CNCT was well-founded, as the company has not issued a press release in almost three years. A press release at this time would go a long way towards proving the company's cooperation in the scheme.

The last Form 8-K that was not about management change was filed by the company on August 8, 2014--8 months ago--regarding a reverse merger with Shenzhen Jinke Energy Development Co., Ltd. Indeed, BMM hangs his hat on this ancient news as the justification for his pump job. Why not pump Apple on the news of the release of the iPod, BMM?


Those who understand anything about arithmetic are particularly amused by BMM's calculation of a valid share price. First he wrongly justifies a value of 12 cents a share.


Never mind that he's dividing by the wrong number of shares--providing a healthy boost to his miscalculation--but BMM totally ignored CNCT's liabilities, essential for calculating the shares' book value.  According to the April 15th filing, CNCT holds $11.8 million in assets while managing $14.6 million in liabilities, a 1.28 debt to asset ratio. By these numbers, CNCT shares sport a book value of negative 2 cents. That's practically insolvency!

BMM continues to gild the lily by spinning Shenzhen Jinke Energy's revenues into a ridiculous valuation.


BMM is of course, completely incorrect about this valuation.  First of all, it is not reflected in CNCT's own reported assets.  Secondly, pigeons are not buying shares in Shenzhen Jinke Energy, but in CNCT, which just reported annual revenues of $4.3 million, resulting in a meager gross profit of $117,358. When operating expenses are factored into the equation, CNCT lost $907,474 in 2014. Since the company does not have the cash to support these losses, they are likely to have to issue even more shares to their financiers.  This may have predicated bringing in BMM to create hype.

CNCT's Part in the Scheme

That CNCT has unclean hands in this Pump & Dump scheme is unquestionable. The company was struck from the Corporate Registry by the Florida Secretary of State after it failed to file any of the required documents following its 2012 Annual Report. It was only reinstated by the SOS on April 10, 2015, six days before BMM released his email. It would be fanciful to believe that this is just a coincidence. That reinstatement could be rescinded after we made the SOS and the SEC aware of a false statement on the filing. Note the identification of the Registered Agent on the 2012 filing.


Now look at the identification of the Registered Agent on the recent filing.


The address is the same but this time CNCT's CEO, Yankuan Li is named as the Registered Agent. What particularly bothered us is that within the same document, Li is named as a resident of China.


How can Li live in China, but be a Registered Agent in Florida?  The RA must reside in the State.

A quick call to Incorp Services, CNCT's former registered agent, did indeed confirm our suspicions. The 67th Court address is an office of Incorp and they no longer act as CNCT's RA. According to the person we spoke to "CNCT is improperly using our address and we shall report it to the Secretary of State". We'll just say that Yankuan Li has committed a fraud.

What does this all add up to?

There is only one possible result for the majority of those who will buy into BMM's hype: disaster. This was the case for his Indo Global Exchanges (IGEX) scam as well his promotion of Freeze Tag (FRZT).

Chart of IGEX Performance During Big Money Mike Promotion March 13 - 19, 2015

Along the way, BMM will make outrageous statements about buying the entire float and becoming the CEO and other ridiculous fantasies.  Don't just laugh it off.  Big Money Mike is dangerous! We suggest that you watch this video which exposes his lies and manipulative tactics.