I was contacted by Brian Kingsfield, who was promoting several small companies that were "profitable, with good management, and good products" He told me that he was calling "qualified Investors" to offer them a chance to be "Legacy Investors" that would be able to buy shares in PEIW, & SYAI before they were listed on NASDAQ.
He referred me to the companies websites, which seemed to verify what he has told me about the companies. I agreed to buy small amounts of stock in a "coordinated campaign" to keep the price momentum in an upward trend. I asked about the company insiders, and if they were restricted from selling their shares, and was told that they could not sell until the shares were listed on Nasdeq, and then only "after 18 months from the listing date, according to SEC Rules"
The stock price went up gradually, so I believed that the "campaign" was effective. after a few weeks, the stock price declined precipitously, and I stopped hearing from Kingsfield.
I called his boss, James (Jim) Price, to complain that some "insiders" were obviously selling large amounts of stocks that he was promoting, at a fraction of the price of the "offer" on over the counter stock quotes. He feigned ignorance, and agreed to meet with me.
At the meeting in February, Price, and his VP Ms. Rannie Hillyer, they agreed to buy my stock at the price I had paid, if I would forbear on my threat to make a complaint to the SEC. He asked for a "few weeks to figure out what is going on". That started months of stalling and refusal to live up to the agreement.
Since that time I have found several other people who are victims of this deceptive scheme. Our losses are over $1,500,000, and the stock is worthless.
I spoke with the CEO of PEIW, who told me that "Jim Price cost me $4.2 Mil", and that he was in the process of suing Aero-Financial.
Aero-Financial is run by Jim Price. Price finds small companies and obtains large amounts of stock in return of his "services", which include a new website, and a sales promotion campaign. Look at the charts of:PEIW, SYAI, WHIO...these are classic "Pump and Dump" operations that can only happen if "Insiders" are benefiting.
I demanded a meeting with Price, and he ducked out. Hillyer told me that I was "foolish" to have believed Brian Kingsfield, even though she had previously complimented him as "very effective for us" in the past..when I mentioned that Kingsfield was banned from working in the industry under a "Desist and Refrain Order" from the State Department of Corporations, she admitted knowing about it, saying "he has had some problems, but we still have confidence in him"
I tried to be business like and told her that I expected Jim Price to live up to our agreement, and she just walked away promising to "tell Jim". That was the last time I ever heard from anyone at Aero-Financial. I started putting up Internet messages about my problem, and had several replies from other victims of this scam. every time I wrote to Aero, I got a call shortly thereafter, from Kingsfield, complaining about my web postings.
Brian Kingsfield finally agreed to "settle this", and offered to pay me back for my losses. I sent a "Settlement Proposal" and he agreed to the terms. When the time for the first payment arrived, I did not receive either the signed agreement, nor the money. In response to that I have posted several more complaints like this one. Kingsfield breeched his agreement to settle, and is now threatening me with physical violence. We are suing.
My advice is to avoid anything that Aero-Financial, Jim Price, or Brian Kingsfield has anything to do with.