DURAVEST…No Money, No Business, Big Market Cap…How Do You Think This Will End?
Duravest Inc. (OTCBB: DUVT)
Number of Outstanding Shares: 36.76 million
Market Capitalization: $126 million
Revenues Since Inception: 0
Cash in the Bank: $40 thousand
Total Public Companies CEO involved with: 4
Full Time Employees: 0
Revenue Streams: 0
AIN’T NOTHIN BUT A SHELL STOCK!
Duravest Inc. is a shell company in the true sense of the way. As of matter of fact, look what Stocklemon found while searching the internet. This company is even being profiled by websites that track public shells. The only problem is that a public shell should cost no more than $250,000 and this company has a market cap well over $120 million. The link below shows the market caps of all publicly traded shells…..guess who has the highest?
http://www.shellstockreview.com/ssrShellsByMV.htmWHAT IS DURAVEST?
In typical shell stock format, the company chose a name that is generic enough to be used in any business. In their filings it states, “The new name, “DuraVest, Inc.” is sufficiently neutral and generic, that it can be appropriate for any future business in which the Company may be engaged.”
http://www.freeedgar.com/search/ViewFilings.asp…
Duravest was organized in 1980 as Ronnie Interior Designs, Inc. They were supposed to be in the interior design business. In March of 1998, they changed their name to Great Wall Food and Beverage, with the hope of generating some hype of doing business in China. After failing to generate even $1 in revenue, the company decided they must explore an alternative, and that is how we end up with the generic Duravest.
BRADLEY WILSON
In August of 1999, Hatchment Holdings, Ltd., a company wholly owned by Bradley R. Wilson, an officer and director of the Issuer, purchased 1,000,000 shares of the Issuer’s then Common Stock for cash at $.052 per share for a total of $52,000. That stock has since been forward split 10 for 1 which gives Bradley Wilson 10 million shares of Duravest. Below is a copy of Bradley Wilson’s bio pulled from a 10k so we can evaluate his track record.
Bradley R. Wilson became an officer and director of the Issuer in August of 1999. Since 1990, he has been the President, a director and the sole shareholder of Hatchment Holdings, Inc., a Toronto based financial services company. He has served as the president and a director of Sagewood Resources, Ltd., a Toronto based public company in the oil and gas business, since March of 1995. He has been a director of Empire Alliance Properties, Inc., a Toronto based public company in the real estate business, since February, 1998. From September of 1986 to January of 1990, Mr. Wilson was employed as a real estate broker for William Allan Real Estate Company. Limited in Toronto, Ontario. His work there was concentrated in the commercial real estate area. From 1982 to 1986, Mr. Wilson worked as a registered stockbroker with E.A. Manning, Limited in Toronto, Ontario. Upon leaving his position at E.A. Manning, Limited, Mr. Wilson allowed his securities license to lapse to enable him to become a registered real estate representative with Empire Alliance Properties, Inc. Since January of 1998, Mr. Wilson has served as president and a director of Inet Commerce Conduit Corporation, a Florida corporation engaged in the business of providing advice and sales and promotional services to retailers of cosmetic products. Since March of 1999, he has served as a director of Noble Brands, Inc., an inactive Florida corporation formerly engaged in the cigar manufacturing and distribution business.
Currently, Mr. Wilson is the CEO of Inet Commerce Conduit Corporation. This company did a whopping $224.00 in revenues in the year 2001.
http://biz.yahoo.com/fin/l/i/icmc.ob.html
Sagewood Resources is Out of Business
http://www.sedar.com/command_servlet…
Empire Alliance Properties is Out of Business
http://www.sedar.com/command_servlet…
NobleBrands is Inactive
My gosh, it seems as if Bradley Wilson worked the fries at McDonalds, they would go out of business too.PATTI COOKE
Bradley Wilson has an accomplice in this stock game and her name is Patii Cooke. Mrs. Cooke is the current CEO of Duravest Inc. Here is her bio as stated in the 10k.
Patti Cooke has served as the President and a director of the Issuer since March of 1998. From January of 1993 until February of 1996, Ms. Cooke was the owner and President of Wellington Cooke Gallery, an art gallery in Toronto, Ontario. Since February of 1996 she has been employed as the Secretary and Administration Manager for Hatchment Holdings, Ltd., a financial services company in Toronto, Canada and principal shareholder of the Issuer. Since March of 1995 she has served as a director of Sagewood Resources LTD, a Toronto based public company in the oil and gas business.
By the looks of this she is no more than an assistant to Mr. Wilson who is now the CEO of our $120 million company. Funny enough, it is Mrs. Cooke’s cell phone that is the registered number for Duravest as stated on their old filings.
http://www.freeedgar.com/search/ViewFilings.asp?…
After leaving five messages on the answering machine of the company, we were lucky enough to get a hold of Mrs. Cooke on this cell phone. She gave us a big NO COMMENT on every question we asked and told us that she was not qualified to talk about the company because she is just an administrator…..just like we thought nothing but a shell.JUST ANOTHER STORY
On April 5, Duravest put out what looked like some promising news. Stocklemon believes that this is all just smoke and mirrors to justify a good stock promotion. Duravest has claimed that they, “entered into an agreement to acquire all the outstanding stock of Cardio Management Systems, Inc. in exchange for 5,000,000 shares of DuraVest’s common stock. The acquisition is conditional upon DuraVest being able to complete it without becoming an investment company under the U.S. Investment Company.”
Well, we asked Patti Cooke who owned Cardio Management Systems when they bought it for 5 million shares in which she told us, “I DON’T KNOW”. We than ran a thorough search on Cardio Management Systems and found nothing. I challenge any of our readers to find one piece of information on this company that Duravest just bought for 5 million shares. They don’t have a phone number, website, corporate information, or bank account.
What Makes this Whole New Business Suspicious
1. Cardio Management Systems is a Phantom Company
2. Duravest would still have to get approval not to be an investment company
3. The only asset of Cardio a 26% ownership in another privately owned company with no corporate history
4. The Dr. quoted in the press release is also a shareholder in Estracure, a private company without a history.
5. If trials are successful than the company has to raise an additional $5 million Canadian, in which they currently have no provisions.
Actually, this business sounds no more or less viable than their last great idea to produce bagged milk and ice cream along the Yangtze River Delta in China…..serious.Stock Promotion
This is the heart of why all of the aforementioned has transpired. It is not unusual to have a shell stock trade at $3. Yet, it is very unusual when a company with no apparent business and a complete lack of management happens to trade up from $1 to over $3 with volume figures that the company has never seen. This is a classic stock promotion. Patti Cooke did not know of one, and no one at Duravest would even return a phone call for the past four days so we could ask them about this promotion. Look at this volume chart and look what happens out of thin air starting mid February.
http://bigcharts.marketwatch.com/quickchart/quickchart.asp…CONCLUSION
Stocklemon believes that Duravest in nothing more than a ploy to separate an investor from his/her hard earned dollar. The company has no management, office, cash, or for that matter dignity. A $126 million shell is ridiculous and we believe that soon the price of the stock will soon reflect it’s TRUE value.
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