CALGARY, Alberta, Oct. 4, 2013 (GLOBE NEWSWIRE) -- Former BluForest, Inc. (OTCQB:BLUF) shareholder, George Sharp, announced today that a Freedom of Information request has been submitted to the United States Securities and Exchange Commission (SEC) for all complaints filed against Jim Can and the public companies which he controls. In addition to BluForest, these companies include Global Resource Energy, Inc. and Multi-Corp International, Inc. The request was prompted by his receipt of communications from Can associate, James Brooks, who claimed to have reported threats levied against Mr. Brooks' family by Can in retaliation for exposing his stock schemes. According to Sharp, Brooks abruptly stopped cooperating as a voluntary material witness with the text messages, "I'm out Mr. Sharp. Too much heat," and "I can't afford this in my life," just 12 hours after Sharp informed Can's attorney, Dirk Julander, that he intended to depose Mr. Brooks.
James Brooks was just one witness who voluntarily came forward after the announcement that Jim Can had been added as a defendant in litigation for Fraud, Negligent Misrepresentation, and Deceit, against BluForest and several of its past and present officers. The Complaint was filed in the San Diego County Division of California Superior Court (Case No. 37-2013-00057730-CU-FR-CTL) on July 16, 2013.
Within his complaint, Mr. Sharp states that the Defendants, then operating as Greenwood Gold Resources, Inc., were deliberately deceptive when issuing press releases regarding the acquisition of theming properties. Mr. Sharp alleges that the Defendants conspired to profit from their holdings by retaining the services of several stock promoters in order to create a marketplace for stock at over-inflated prices in what is commonly known as a Pump and Dump scheme.
Mr. Sharp commented, "Jim Can's execution of a pump and dump campaign on Greenwood Gold Resources and subsequent reverse split was pre-meditated, as is the current scheme on BluForest, Inc., where the company has deliberately and falsely overvalued the carbon credit assets of the properties in Ecuador, in a conspiracy with another of Mr. Can's operations, Global Resource Energy, Inc."
Mr. Sharp continues to express concerns for investors in BluForest, Inc., fearing the same kind of harsh losses that wiped out investors under the Greenwood Gold pump and dump campaign. According to Mr. Sharp, BluForest's share price has already dropped over 70%.
Mr. Sharp, an activist against penny stock fraud with a long history of cooperation with the SEC, FBI and DOJ, cautions investors not to invest in stocks promoted through mailed, email or internet advertisements, as these are typically attempts to abscond with investors' funds, by selling worthless or near-worthless stock at heavily over-inflated prices. Stocks promoted by these newsletters almost always end up with share prices that evaporate and significant losses by the public.
Mr. Sharp now holds no interest in BluForest, Inc. and has never directly or indirectly been involved in the shorting of any stock.