Does anyone know anything about this company, "ESS Environmental, Inc". I have a client who "owns" 20,000 shares of it and paid about $30,000 for it. The stock certificates say they aren't registered securities and everything i'm finding online says that they have many "Cease and Desist" orders from different states. I think this could be a scam. The website is www.essenvironmental.com . But as you can see there is nothing there. Thanks for your help in advance.
From just the quick search of Google, I would agree with you that it is a scam. Or at least a failed venture. Where did your client buy the shares? Hopefully it wasn't a substantial part of his net worth.
Took me 5 seconds to find this:
I saw that already. I found plenty of court documents, but nothing stating its a scam. the clent's son is actually the "actor" that sold some of it from that article. The client swears up and down that it's legitimate and says something about the Attorney General of louisiana trying to steal the company. It's crazyness. I can't find anything stating the final verdict on this whole thing.
Spiff - She bought them from her son and then some other guy. It's not a large part of her net worth, but she sold some of her Investments with EDJ before she transferred here from another state, to pay for it.
Hang on to your share certificates. If you have shares within a custodial firm, have them and copies of all your transactions provided to you, I believe under current IRS actions against them, trust companies etc. are required to refuse business with current "findings" - relative to income tax fraud/evasion etc.
Tom is getting a bit discouraged with all the legal distractions taking ESS founders away from their intended business endeavor. Tom continues to speak with excitement about their current progress and potential future successes, which, as always, is getting closer. I truly hope they succeed!
A Canadian company may be gearing up to do very similar work as ESS say they do (the use of a special chemical is the key to both their processes) in a known oil/tar/sand area of Utah.
I would like more info on this Canadian/Utah company. I wonder who knows who between these two companies. Sometimes, perseverance furthers.
The client swears up and down that it's legitimate and says something about the Attorney General of louisiana trying to steal the company. It's crazyness. I can't find anything stating the final verdict on this whole thing.