Note: This is a re-up of thoughts on NMTC originally from 2018, but just as relevant today. It appears NMTC has reawakened from its slumber. Kukekov is now at Paulson, home of many bioturd shitstocks. Past is Prologue. Pedigree Counts.
A reverse-merger based in Eden Prairie, MN, hyping nonsense, recently came to our attention, NeuroOne Medical Technologies (NMTC). This filthy company shares many similarities to another reverse-merger turd, Biotricity (BTCY), we’ll examine that scam another time. For now, let’s look under the covers at NMTC.
There was recently (nb: in 2018) a conversion of notes at $1.80/shr, along with 100% warrant coverage at $1.80. Our guess is that we are seeing a walk-up (aka a “rig”) in front of a real promotion as those shares are being sold.
The company originally came public in 2011, as Original Source Entertainment, a Jody Walker shell. Ms. Walker has been responsible for countless scams: RNBI, ALKM, VHUB, RIHT, RJDG, PVTA, KRED, NAMG, DMHI, and AIDC just to start.
The original nominee holders were:
In 2014, the control block was sold to a young gentleman named, Amer Samad:
Amer moved the company to an address near Buffalo, NY. By April, 2017 some stock had leaked out, and Amer still held 69% control.
In July 2017, the shell merged with a medical device company in Minnesota, NeuroOne, Inc., creating NeuroOne Medical Technologies (NMTC). Curiously Amer returned 100% of his holdings for cancellation.
This leaves 1.573mm existing shares, and 6.292mm shares issued in the merger for a total outstanding of 7.865mm shares. One unanswered question is where did those existing shares, which would be free-trading, end up? Typically in these sorts of scams, these shares are actually secretly in the hands of the promoters/insiders. Another question is who has been paying Amer? An unnamed related party.
Just who is this related party? That remains unanswered (for now) as well, but at BuyersStrike! HQ we have some ideas.
The merger into the shell was arranged by an outfit called Highline Research Advisors (HRA), which is made up a few ex-John Thomas Financial (expelled by FINRA, raided by Feds), ex-Merriman (expelled by FINRA), ex-Agincourt rejects, Theodore Kalem & Nikolay Kukekov. Their HRA shop has moved from JTF to Merriman to Agincourt and now they hang their hats at another bucket shop, Corinthian Partners.
Here’s Theodore’s CRD:
The working theory here at HQ is that finding this shell was no chance occurrence for Kalem and Kukekov. Mr. Samad‘s name appears in a previous Kalem/Kukekov deal, Citius (CTXR). See the CTXR S-1 filed September 11, 2015. Given that they probably knew Amer from this prior turkey, it is highly likely that one of them, or an entity they control, was the related party funding the shell.
After the NMTC merger the new shareholder list looked something like this, from the most recent NMTC proxy, filed April 27, 2018.
Would it surprise you, dear reader, to learn that there are shenanigans afoot? Chromium 24 LLC and Lifestyle Healthcare LLC are actually undisclosed related parties. Their total ownership is over 18%. Likely tripping up all sorts of disclosure violations, just for a start.
How are they related?
When pulling the ownership statement for Chromium 24, LLC we find a familiar family name, Kalem:
“That’s only a coincidence,” the touts and shills might say. Perhaps, perhaps not. Let’s dig deeper, from Bloomberg:
And how about Lifestyle Healthcare, LLC? Let’s read Nickolay’s biography carefully:
Kukekov is an owner of both entities, and clearly has a close relationship with Kalem. Case closed. And this is not the only piece of garbage bioturd/medical device scam stock with these two fine gentlemen lurking behind the scenes.