IS JAMES McCANN A JW?

by bj 6 Replies latest jw friends

• 

  bj

  Can anybody tell me if James McCann is a JW? If so, what are your evidence? Yes, I know his connection with REGI & RCEC.
  (I remember reading that he represented the Watchtower Society but forgot the site)
• 

  Amazing

  Hi bj: No one knows for sure if Mr. McCann is or was a JW. But, the following does suggest the possibility. Here is a short post I made on another forum.

  "Rand Cam Engine Corp. is a privately held company whose stock is reportedly owned 50% by The Watchtower Society, a religious organization, 34% by James McCann and the balance by several other shareholders. Mr. McCann has indicated that he donated the shares held by The Watchtower Society to that organization but has retained a voting proxy for those shares. Accordingly, in Notes (3) and (4) above, beneficial ownership of the 5,367,900 shares registered in the name of Rand Energy Group Inc. has been attributed to The Watchtower Society and Mr. McCann.

  The Company issued 5,700,000 shares of its Common Stock at a deemed value of $0.01 per share to Rand Energy Group Inc. ("REGI") in exchange for certain valuable rights, technology, information, and other tangible and intangible assets relating to the United States rights to the Rand Cam Engine (the "Original Engine"). REGI is a privately-held British Columbia corporation which is 51% controlled by Reg Technologies, Inc., a publicly-held British Columbia corporation ("Reg Tech").

  In 1995, the Company acquired an exclusive limited sublicense to market and distribute in Canada the rights to Machine Vision technology. On October 31, 1995, the Company sold its rights to the Machine Vision Technology to Reg Tech for $200,000. All obligations pursuant to the sublicense were transferred to Reg Tech.

  The defense industry has applied machine vision technology to "smart" bombs, which use video imaging technology to identify targets through the use of special optic sensors. The sensors feed scenic information into sophisticated computer programs that then process the scenic information into target location coordinates."

  Then I made an additional post about the current Over-The-Counter trade value of this stock:

  "Here are the latest figures I have confirmed:

  While the corporation is 'private' it uses the NASD symbol "RGUS" for REGI US INC.

  Exchange: OTCBB (Over-The-Counter)
  Previous Close: 0.437 on 9/13/00
  Volume: 0
  Currency Units: US Dollar

  This US Corporation is majority owned by a British Columbia Corporation based in Canada. Of the US stock, the Watchtower Society is 50% owner as of the date of the filing I read which is addressed to the Securities Exchange Commission in Sept. 1999. I am a little confused how the parent corporation could be a 'majority' owner, yet the Watchtower Society still own 50%. But that is the data as shown on the filings.

  I would think that if the Society only owned a small share that was donated, it would seem inconsequential to its standing as a nonprofit religious organization. People give assets such as this all the time to religions.

  HOWEVER, the Watchtower Society seems unique in that it denounces investments in the old system and its journal Awake! for many years claimed that it was 'free' to publish 'truth' because of being "unfettered" by commercial interests. In times past, the Society has even forced branches to divest interests in various profit making investments. After which, they even held Conventions where they read a resolution apologizing to Jehovah for their 'sin' and publicly repented of this 'unclean' act before all onlookers.

  Now lets think about this for a minute: 5,371,000 shares valued at $0.437 per share equals $2,347,127 in stock ownership. This is just one company we know about. But, the interesting situation is that the Watchtower Society owns 50% in the US corporation as reported, even if not a 'majority' interest. Is this not a clear powerful position of influence company policy? Even if the British Columbia company holds the major role, would not a powerful voting block such as this at least help 'influence' the actions of what the company builds and sells? And even though the voting is by proxy, it is done by the person who donated the stock to the Society. Therefore, would not his votes reflect sympathy and loyalty to the Watchtower Society teachings, policies, and beliefs unique to Jehovah's Witnesses?

  Interesting. What do you think? - Amazing
• 

  sf

  Some related items to sift through(one download would not open for me; "WATCHTOWER SEWAGE PLANT/MCCANN"):

  < http://google.yahoo.com/bin/query?p=James+McCann+Watchtower&hc=0&hs=0

  sKally
• 

  bj

  AMAZING and SF thank you for your information. As I said I know for sure I have seen his name as a representative of the WTS to the Washington DC.
  Need more help!
• 

  Amazing

  Hi bj: I am not sure what you mean by a Watch Tower representative to Washington D.C. ... could you be specific as to what you mean by that? As for 'representation' in Washington D.C., the only thing I can think of for a private (non-Public) entity is some kind of Lobby arrangement. But I am not sure what the Society would lobby for in D.C.

  The only 'representation' that Mr. McCann provides, at least according to the SEC Filing, is that of Voting Proxy for the Ran Cam shares. He donated them to the Society, and retained this control. It is not an uncommon practice.

  Amazing
• 

  bj

  Amazing, As I said I remember reading his name, the pity I didn't took note of it. For what reason I'm not sure neighter, but he was representing the JW and nothing to do with REGIS and the rest.
• 

  bj

  up again