- Report: #807356
Report - Rebuttal - Arbitrate
Complaint Review: Raystream Inc.
Raystream Inc.2101 Midway Road, Suite 140 Carrollton, Texas United States of America
Raystream Inc. RAYS Of Sunshine, Or Clouds Of Doom? Carrollton, Texas
*REBUTTAL Individual responds: Law Office of Thomas E. Puzzo
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Like so many penny-stock names, Raystream went public through a reverse merger with an existing shell company.
That company, originally known as Interdom (ITRD), was going nowhere before it changed hands. Incorporated in Nevada two years ago, records show, Interdom had total revenue of just $200 - and a mere $45 in the bank - when its founder Igor Rumianstev, a Florida real estate agent, decided to sell his controlling stake in the company. While Interdom had managed to secure a listing on the OTC Bulletin Board ahead of its sale, the stock had yet to begin trading at that time.
On June 14, two months after Interdom landed its spot on the penny-stock exchange, Rumiantsev sold his 83.8% stake in the company to Unlimited Trade for $200,000 and walked away from the firm. At that point, Roman Rumpf briefly took over as the sole officer of the company. Although Peterson technically replaced him as the top executive about four weeks later, Rump stayed on as the CIO and continues to hold down that position to this day.
Earlier this year, Rumpf helped launch a German technology company that carries the Raystream name. He began serving as the "general manager of Raystream GmbH" in March of 2011, official records state, somehow assuming that post four months before the company even surfaced as a registered business. Like its American parent, Raystream GmbH - a company co-founded by Rumpf and Thomas Friedli - specializes in video-compression technology.
Raystream issued 20 million shares of stock, or roughly 40% of its shares outstanding, in exchange for the German subsidiary that gave the company its name. It issued another 5 million shares to Unlimited Trade in exchange for $2 million to fund its operations.
A Panamanian company, Unlimited Trade shares two of its officers - Francela Ivonne Findlay Silva and Orlando Zamet Reyes Saldaa - with another mysterious outfit based in that same country. Those officers double as officers at Gekko Industries, the same Panamanian firm that financed a notorious stock promotion for Lithium Exploration (OTC: LEXG.OB) earlier this year.
Like Gekko Industries before it, Unlimited Trade spared no expense on its big penny-stock campaign. Although it has spent millions promoting Raystream, however, Unlimited Trade has obviously skimped on its rent. As this video shows, the firm operates from a building in Panama City - with no elevators or even electricity - that looks like an outright dump.
This report was posted on Ripoff Report on 12/09/2011 05:41 PM and is a permanent record located here: http://www.ripoffreport.com/r/Raystream-Inc/Carrollton-Texas-75006/Raystream-Inc-RAYS-Of-Sunshine-Or-Clouds-Of-Doom-Carrollton-Texas-807356. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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