![]() ![]() ![]() The defendants’ sales of the Lustros shares also had the effect of destroying the value of the Lustros shares held by the public.” The defendants then sold the shares to unsuspecting retail investors, who did not know that the shares were fraudulently acquired and were being sold illegally. and then to convert those notes into shares of Lustros common stock. “According to the SEC’s complaint, from approximately December 2012 to June 2013, microcap stock financier Magna Group, which was founded and owned by Joshua Sason, engaged in a scheme to acquire fake convertible promissory notes supposedly issued by penny stock issuer Lustros Inc. From the SEC press release that goes with the complaint: If you read the complaint it alleges pretty crazy stuff. The majority shareholder of a company running out of money gets an SEC complaint for what appears to be a fraud perpetrated by his other company? C’mon! Anyone associated with Pledge pretending like it’s not part of the story? Well, that makes it part of the story. Now this complaint doesn’t directly have anything to do with Pledge Music, but it is certainly part of the story. He is also an interesting person: see here.) Also named is the fabulously named Zirk de Maison. (The other defendants Sharma and Salviola have an interesting history See here, here, hereand here. It seems to be a distraction, unintentional, but still a distraction from the fact Pledge Music’s purportedmajority shareholder Joshua Sason, is the guy named first in the SEC complaint below. Wikipedia's Monopoly to Knowledge (M2K).Transparency in Music Licensing and Ownership Act.The Human Artistry CampAIgn: Core Music Principles for Artificial Intelligence Applications.Mechanical Licensing Collective: The MLC.Google Justice Department's Assault on Songwriters.Copyright Office Unclaimed Royalties Study.Subduing without fighting: Avoiding Hyperinflation April 26, 2023.Music Week: Academy CEO Graham Davies on his hopes for streaming reform April 30, 2023.Fair Pay for Creators is the Bare Minimum May 1, 2023.“How can you get a billion streams and not get a million dollars?” May 9, 2023.Your Morning Coffee Podcast with Jay Gilbert and Mike Etchart on streaming royalties and pricing May 15, 2023.Enter your email address to follow this blog and receive notifications of new posts by email-you'll be signed up for the free MusicTechPolicy monthly newsletter, too! ![]()
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