Hide Your Wallets.Scott Fraser is Back in Town.

Cash in Bank- $83, 516
Shares Outstanding- 21,247,464
Revenues to date- 0
Promoters with SEC History- 2

The most recent of the Scott Fraser newsletter promotions is American Oil and Gas.  This newly formed company consists of some oil leases that were bought for a total of $815,365,  yet the company has a market capitalization of over $30 million.  The company owns 50% of these leases that were purchased from another company controlled by the CEO. 

Alan Gelfand

The mastermind behind this deal seems to be Alan Gelfand, a former stockbroker at Wolverton Securities in Canada.  It seems as if Mr. Gelfand left Wolverton in January of 2003, just as he was putting his own “deal” together.  Mr. Gelfand put American Oil and Gas together and seems to be one of the largest shareholders of the company.  He was the former CEO of AOGI and now serves as a director.   How many shares are currently held by Alan Gelfand and his family?  Why does the 10k give a “?” next to his name when is states holdings?  It is the experience of Stocklemon that whenever a Canadian broker leaves his job to focus on his own stock, it normally means doom to the shareholders.

Scott Fraser

Boy is this good.  We all remember Scott Fraser.  He was the same guy who wrote about EYPSF and SBSF.  As reported previously, it seems as if the SEC has caught up with Fraser.  After he refused to cooperate with the SEC, a judge handed down an  investigative subpoena that forced Scott Fraser to turn over his records after making bold claims on his internet site www.scottfraser.com

http://www.sec.gov/litigation/litreleases/lr17639.htm

Let us look at the past two reports prior to AOGI that have been issued by Scott Fraser.  On March 18, Fraser recommended ZLNK while it was trading at $1.05.
http://www.scottfraser.com/tncOutput.php?entryID=288&username=&password=

At the date of this report it trades at .12 (twelve cents).  Look at this chart.
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=zlnk&sid=0&o_symb=zlnk&freq=1&time=5

On March 5 2003, Scott Fraser reported on EDGH when it traded at .90, today the stock now trades at .17
http://www.scottfraser.com/tncOutput.php?entryID=287&username=&password=

Here is the chart
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=edgh&sid=0&o_symb=edgh&freq=1&time=5

For those of you who do not know, this is how it works.  Scott Fraser writes up an article on the company and the company pays for all of the postage to send it out to unsuspecting investors.  Scott Fraser makes him money by hopefully getting people to subscribe to his newsletter.  Plain and Simple.

Len Turano & TKO International

Investor relations for American Oil and Gas are currently being handled by Len Turano at TKO International.
http://www.americanoilandgasinc.com/index2.htm

Mr. Turano has had his problems with the SEC in the past as shown in the following SEC documents.
http://www.sec.gov/litigation/admin/33-7650.txt

Tom Cutis at Moors and Cabot and Gerry Kirby at Spencer Edwards are two brokers that one is referred to if you call TKO regarding American Oil and Gas.  What is the relationship between Spencer Edwards and American Oil and Gas?  Have these stockbrokers been compensated for their involvement with American Oil and Gas?

Conclusion

Stocklemon believes that this is just another bad oil and gas deal that we see on the OTC.  If the whole assets of the company were bought for $830,000, then that is what the company is worth.4 cents a share.  Vancouver stockbroker + Scott Fraser + TKO International = hide your wallets.