Beware of University Lab Technologies stock scam in Florida.
I am an ex-stock broker. I received an email about university lab Technologies, and their plans to raise money to go public, expand company growth and product development.
The email was from Steven Axelrod at 888-575-1700 x 12. The email persisted that it was a good investment. It gave four reasons to make the purchase. All four reasons related to the success, and merit of others, and did not rely on the merits of the company in question. Followed by a disclaimer, it was their opinion, an excellent investment, and that you owed it to yourself to invest.
I did some research, this is what I found.
The website is www.UniversityLabTechnologies.com a private company, with CEO & mastermind George Theodore. President Dr. Jarret Morrow, a young doctor in Canada, and brother-in-law to George Theodore.
Below are some George Theodore claims and facts I verified;
1. He was co-founder of www.infolinkca.com (this is a false claim)
2. George Theodore did not resign from Infolink in instead he was terminated as a director for false press releases, misleading shareholders, and not filing stock holdings, according to Infolink insiders
3. George Theodore is currently being sued by Infolink for $25,000, 000.00 for conspiring to harm the company. Www.infolinkca.com
4. George Theodore is currently working at www.Activecore.com, a well known stock pump & dump operation, (Florida office) while he starts up the new www.ULTLABS.com scam.
5. University lab technologies is a private company, is just a front for pumping stock, with promises to go public soon. There is a boiler room sales team currently promoting and selling the UNIVERSITY LAB TECHNOLOGIES stock. There is no intention of the UNIVERSITY LAB TECHNOLOGIES vitamin products ever being produced and mass marketed. The sole purpose of UNIVERSITY LAB TECHNOLOGIES is to sell its stock, although it's a private company.
6. UNIVERSITY LAB TECHNOLOGIES products are not FDA approved. (contrary to website claims)
7. UNIVERSITY LAB TECHNOLOGIES President lives in Canada, and does not operate the company. George Theodore is a Torontonian, trying to sell stock from the Florida office, and enjoying the Florida Homestead law to protect his assets, incase he gets sued. Theodore fled to Florida to avoid his debts in Toronto, Canada.
8. Main UNIVERSITY LAB TECHNOLOGIES Florida office belongs to, and is paid for, by Activecore, not University Lab Technologies.
9. The Other UNIVERSITY LAB TECHNOLOGIES Florida office happens to be George Theodore's house or basement.
10. UNIVERSITY LAB TECHNOLOGIES Company was created, produced, setup and funded by Activecore. This is called misdirecting funds from a public company, to a private company, and to the personal benefit of George Theodore. Hence your UNIVERSITY LAB TECHNOLOGIES investment may have some ownership difficulties.
11. Currently the Royal Bank of Canada is pursuing George Theodore for repayment of a one Million dollar line of credit that has been exhausted and remains unpaid.
12. UNIVERSITY LAB TECHNOLOGIES assets consist of a website and several bottles of vitamin samples. UNIVERSITY LAB TECHNOLOGIES does not own an office, or have office space lease in its name. UNIVERSITY LAB TECHNOLOGIES shares its office inside Activecore Florida office, paid for by Activecore. UNIVERSITY LAB TECHNOLOGIES has no foundation, or commitment to anyone. Based on this evidence and Mr. George Theodore's past, your investment will not be safe. They can close down next week, with little repercussion and your investment is gone, while George is protected by any lawsuit, with the use of the Florida Home Stead Law. They will proceed to open a new company, new website, change label on their vitamin samples, and start again.
13. Their frenzy of press releases is meant to legitimize their cause.
14. One such press release makes claim to two of their patents. Both patents have been researched in the US Patent & Trademark Office. Patents do not exist, therefore their press release is false, and the patent is also false. The particular patents in question are Arthroleve, and Zenstral, these are false.
(Forbs link removed by ROR)
15. The press release claims of a production run for May 1 is false. There are no customers, there is no distribution for the product, and there are no sales. Therefore, a production run to complete by May 1 is also false, as no company would manufacture large quantities without distribution in place, since these products have a limited shelf life, and would spoil.
16. Four reasons they give, for you to buy stock;
a. The press release is listed on Forbes.com, therefore it must be legitimate. (REBUTTLE; Forbes does not check for validity of press releases, anyone that can pay will be listed)
B. They have a well respected bunch of medical advisors. (REBUTTLE; These doctors are friends of the young doctor J. Morrow, a recent graduate from medical school, and they don't realize their credentials are being used for a stock scam)
C. Other competitors in the same industry have successfully gone public, with stock valued at $3 per share. (REBUTTLE; Other company's successful management team, is not proof UNIVERSITY LAB TECHNOLOGIES will be successful. This is perceived value, there have been no sales, as yet, to indicate value of this company)
D. They claim to have reached 8 of 10 steps to list the company on American stock exchange. This 8-th step is a patent-pending for 2 products. (REBUTTLE; They do not list the first 7 steps, and there is NO patent-pending)
17. George Theodore is a Professional Con Artist, according to my research.
Bryan
Bronx, New York
U.S.A.
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