Meridian Sciences Inc.: An Old Scam In a New Bottle
February 2009: Meridian Sciences Inc. is a Nevada Corporation seeking
to raise cash through a private equity placement. Here are some facts
investors should consider:
- Two of the principals of Meridian Sciences, David Gann and
Dr. Shui-Yin Lo, were involved in a previous "homeopathic crystals"
scam perpetrated by American
Technologies Group. With Meridian Sciences, Gann and Lo appear to
have simply changed the name of their snake oil from "IE crystals" to
- Read more about American Technologies Group (ATG) and their magic
crystals in this interview
with ATG founder John Collins.
- Financial documents explaining Meridian's private equity
placement are available here. See
particularly this corporate
overview, which makes claims about discovering a new physical
state of water that any scientifically literate person will recognize
as ridiculous. Similar claims were made by Dr. Lo more than a decade
ago when he was at ATG, leading to an investigation by the
Oregon Attorney General.
- A competing homeopathic fuel treatment scam is currently being
run by the Carroll brothers under the name BioFriendly Green
Plus. Dr. Lo previously worked for the Carroll brothers.
- The web site of the Meridian Sciences Foundation for Wellness and
Treatment, now offline (but see this archived
version), contains outlandish scientific claims and an attempt to
sell memberships in a clinical trial! According to Meridian
CFO and Director Bill Owens, the web site belonged to a minority
investor who had access to "confidential internal documentation and
proprietary information" (his words), but created the site without the
company's knowledge or approval. Owens says this nonprofit foundation
was to be a separate organization from Meridian Sciences Inc., created
and controlled by this minority investor, but it never actually came
- Also according to Owens, Meridian asked that the site come down
because it contained inaccuracies and content the company deemed
unacceptable. But the basis of the site was clearly Meridian's own
materials. The contents of this site are so disturbing that it raises
questions about the sanity of all parties involved. Most noteworthy
are the sections labeled Testimonials, Services, Clinical Trials, and Cancer.
- Some questions I asked Bill Owens (and received no answer):
- It is claimed on the MeridianSciences.org web site that someone
named Jim Franklin was instantly cured of a previously untreatable
esophageal condition when he was given water "prescribed by Dr. Lo."
For how long has Dr. Lo been practicing medicine in California?
[Lo does not have a medical license.]
- The web site also claims that Meridian
Sciences Inc. has been conducting "clinical trials" of the Life Crystal.
According to the site, one such trial lasted 45 days and involved 9
human subjects. Who has been supervising these trials, and what are
their qualifications to do so?
- The person who actually built the web site is a 2007 law school
graduate now working on passing the California bar. His name is on
the site, but he claims it was just there as a temporary placeholder
for the unnamed investor who would be running the foundation.
Last modified: Wed Apr 8 04:17:12 EDT 2009