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COLV Pump & Dump Resumes Amid Litigation

June 6, 2016: The Coast Integrated Services, Inc. (COLV) fraud continued today as the newsletters of Stellar Media Group, including Damn Good Penny Picks, resumed promotional efforts. The pump and dump campaign--the seventh in 20 months--has seen share prices drop 99% since the ticker was first introduced to pigeons back in November of 2014.  Today's promotional emails came after the number of shares outstanding more than tripled since the last promotion took place in November of 2015. Even with the vast increase in the number of shares, COLV's market cap has dropped from $123 million to just over $3 million.

Investors' eagerness to become bag holders is puzzling when considering that COLV itself admits that its Simply Lids product is valueless. Latest financials filed by the company list a total asset value of about thousand bucks, all in cash. Naturally, no revenues are reported.

George Sharp
   » Related: Why the COLV Pump and Dump Is Already Failing

The scheme to defraud probably accounts for the company's decision to defer for as long as it can, the production of documents subpoenaed by anti penny stock fraud activist, George Sharp, who has filed litigation against COLV for its part in violating California's anti-spam statutes during a StockTips pump and dump email campaign. Today Sharp tweeted that it has filed two motions with the court seeking an order compelling COLV to comply with the subpoenas.

Sharp's first motion states that COLV did not even respond to its initial document requests which sought copies of attorney opinion letters that enabled the removal of restrictions from stock certificates thus enabling those shares to be dumped during promotional efforts.

A second motion seeks documents to satisfy 14 categories of requests, including various corporate documents such as contracts, communications, and meetings of director and shareholder meetings. According to the motion, COLV's attorney, Robert Huston, filed blanket objections to those document requests and did not produce a single document, citing a lack of relevance, a standard argument for those defendants looking to thwart the discovery process. Sharp's 36 page motion argues that Huston's objections are themselves irrelevant and that the documents are integral to Sharp's case.  The motion was accompanied by a 22 page statement which details why each and every document should be produced.

Harold Gewerter
The motions are scheduled to be argued in front of Judge Timothy Taylor on August 5, 2016.

Other defendants in Sharp's case include fellow Stock Tips pump and dump subject, Tiger Oil and Energy, Inc. (TGRO), and Robert Bandfield, a Grand Jury indictee and current guest of the federal penitentiary system. Empire Stock Transfer, Quicksilver Stock Transfer, Attorney Harold Gewerter and AWeber Systems, the third party emailer which distributed the Stock Tips emails, are also named as defendants, as is Herman Adrian Thomas, whom Sharp identifies as the publisher of the Stock Tips newsletter.