...Mr. Alan Lubinsky. Some of his history follows. I will admit to having had a very unsatisfactory business relationship with him in the past so some of this may be written off to "sour grapes" but the man has a history of stock manipulation and has announced many new schemes for AC that have not come to fruition. He was moving the factory to Malta, had financing from Australia, etc. etc. etc.
One of his partners (Christopher Kinsley)has been indited in New York for stock manipulation involving Lubinsky's former operation, Pride Automotive Group. Pride was in trouble in the UK and the auditers questioned its ability to "continue as a going concern"...UK speak for upside down. The wall street company Mason Hill & Co. handled the "reverse merger" of Pride into Digital Mafia Emtertainment (symbol DGMF) now called DME in which Lubinsky took hundreds of thousands of shares. Look at what it trades for now, was at $13.00 back in 2001.
http://www.oag.state.ny.us/press/200...sep19b_02.html
and more:
Take DME Interactive. Last year, Darien Dash, CEO of 5-year-old Digital Mafia Entertainment, transformed his privately held Internet services firm into a company publicly traded on the Nasdaq exchange. (DME was listed after it acquired the assets of Pride Automotive Group, a publicly traded automotive leasing company, in a transaction known as a reverse merger.) Shortly after going public, the company, which received much fanfare, and enough credibility to ink a multimillion-dollar deal with AOL Inc. and CompuServe Interactive Services Inc. to launch Places of Color, an urban Internet access community. Yet just a few months later, rumors began to circulate that the company was in trouble. The rumors were confirmed by the third quarter of this year. SEC filings revealed that as of June 30, DME had only $27,222 in cash. During the summer, the cash-strapped enterprise laid off 60 employees--and halted plans to launch Places of Color and Fan4Life.com.
DME and other dotcoms are operating in a far more discriminating environment. Cooper believes the current shakeout will bring more instability to what was an increasingly segmented space and "force companies that don't have a sustainable business model out of the marketplace."
If you do research on Pride and Lubinsky you will find a trail of press releases that never come to fruition.
That he has "made nice" with CS is just more smoke. And it does not even begin to address some other legal issues that I am not at liberty to disclose.
All in all, someone to watch very carfully if you do business with him.
Rick
