A former Black Dome Services employee contacted Foreclosurepedia this week with a short message: “There is no one at Black Dome.” The employee asked that their name not be used. Foreclosurepedia is honoring that request.
It was then that I was reading the press release from Steve Horne’s latest endeavor, and it read like a script from The Wolf of Wall Street. Wingspan, the company he founded, filed Chapter 7 in July 2015 owing $12.07 million against $1.24 million in assets. A2Z Field Services, which Black Dome bought in November 2025, is now in Chapter 11, and Black Dome left its own staff unpaid. Horne is now Chief Growth Officer of a publicly traded company that promises “opportunity origination” and will not say what it pays him.
Black Dome Services is the company that bought A2Z Field Services in November 2025. Steve Horne owned it. A2Z is now in Chapter 11 bankruptcy. The Field Service Technicians and Inspectors who worked for A2Z have been waiting for their money for months.
The Debt Went One Direction
Foreclosurepedia has reported that Horne loaded A2Z with debt after the acquisition and then disappeared. A2Z now sits in bankruptcy carrying obligations it did not have before Black Dome arrived. Horne himself is also reported to carry substantial debt.
The former employee says the damage did not stop at A2Z’s vendors. Black Dome’s own staff were left unpaid as well. In the employee’s words, “he owes all his former employees.”
The Department of Labor Has Already Looked
According to the former employee, a Department of Labor investigation found that wages are owed. The investigation also assessed a sanction for ignoring the Department’s inquiries and interest that continues to accrue daily. The employee says the matter is now headed to a state attorney general.
The employee estimates that Black Dome owes its former staff about $120,000 in total. The pattern the employee describes, however, is one Foreclosurepedia has now seen across the industry: work performed, payment withheld, and the people at the top gone.
The Insurance Problem
The most serious allegation in the account involves health insurance. The former employee says the company’s coverage was canceled retroactively to February 1. The employee further says Horne kept the refund check from the insurer for the cancellation.
According to the employee, premium deductions kept coming out of paychecks anyway. Employees did not learn the coverage was gone until they went to doctor appointments and the insurance was declined.
The Human Resources Department Walked Out
The employee says the company’s human resources staff quit because they were not being paid either. That detail matters. The people responsible for payroll, benefits, and employee complaints were themselves unpaid. Nobody was left to receive a complaint.
“So many layers,” the employee wrote. The employee added that they “could write a novel of the horrors there.”
He Was Seen At An Industry Event In August
The former employee says Horne showed up at a NAMFS or Five Star event in August. If the account is accurate, Horne was working an industry room while his former employees were chasing back pay. This is the eternal story of NAMFS and its membership.
And Now A New Title
The former employee then pointed Foreclosurepedia to an announcement from GAMG. The company’s own press release, by its headline, states that GAMG was approved for the OTCQB Venture Market and appointed Steven Horne as Chief Growth Officer.
Foreclosurepedia then noted a financial review of GAMG published by Wall Street Global Research. Wall Street Global Research reviewed GAMG and stamped it “blacklisted.” Its verdict is unambiguous: avoid the stock, take no position, and sell any shares already held. The firm calls GAMG a case study in narrative over substance.
The review starts with the numbers, or the lack of them. GAMG claims a market capitalization above $300 million, yet the firm found a balance sheet with no discernible assets, liabilities, or equity. In the reviewer’s telling, the promotional materials promise an empire while the financial record shows a void.
Then comes the ambition. GAMG’s website says the company will add $200 million in asset value every year, starting with a first milestone of $500 million in assets. The review says those projections have no foundation. The strategy runs from government-assisted rentals to luxury for-sale homes to the eventual purchase of a lending institution. The firm calls that a company trying to be everything to everyone.
The review is harshest on the people. It says Chief Executive Officer Richard Balles and his team publish generic biographies with no verifiable achievement in large-scale development or capital markets. It finds no evidence that anyone on the team has sourced, built, or managed a portfolio anywhere near the size they now promise. The vision, the reviewer concludes, has nothing to do with the team’s proven capacity.
The firm then puts questions to the company. With no revenue, how is GAMG paying its bills, and what does it burn each month? Where are the “over a thousand properties” the website advertises, who manages them, and where are the audited rent figures? Which lender issued the $30 million in construction financing the site mentions, on what terms, and against what collateral? The review says the company’s materials avoid every one of these.
The reviewer also notes that GAMG trades over the counter, where disclosure rules are looser than on the national exchanges. In that setting, the firm says, GAMG still offers almost nothing. Its closing line calls the risk unquantifiable.
That is the company that handed Steve Horne the title of Chief Growth Officer. His former employees say they are owed their wages. The research firm says GAMG cannot show where its own money comes from.
Two Trusts And The Insiders Held 93 Percent
The annual report’s ownership table, dated December 31, 2025, lists two trusts at the same Rockville, Maryland address. The RB Family Trust held 120,380,000 shares and the CM Trust held 125,000,000. That was 35.5 percent and 36.9 percent of the company, or about 72 percent between them. Directors and officers held another 21 percent, or 70,148,425 shares. That left roughly 23.5 million shares, under 7 percent of the company, in everyone else’s hands.
GAMG did not start as a startup. It is the old Kenilworth Systems Corporation, incorporated in New York in 1968, which discontinued its business operations in 2023 and renamed itself in June 2025. Three months later it issued 250,000,000 shares to the owners of DC Rental Portfolio Corp. in a reverse merger.
The SEC’s own investor bulletin says a reverse merger is “perceived to be a quicker and cheaper method of ‘going public,’” that many such companies “fail or struggle to remain viable,” and that “there have been instances of fraud and other abuses involving reverse merger companies.” GAMG fits the structure the SEC describes: an old public listing, a thin float, and a new story attached to it.
That was year end. After June 30, holders surrendered 295,001,197 common shares for cancellation in connection with a new class of Series A Preferred Stock. Each preferred share carries 2,500 votes, and the company can convert each one into 2,500 common shares at its own option. The designation authorizes 50,000 of them, which would carry 125 million votes. The filing does not say who surrendered the shares or who received the preferred.
The Market Cap Rests On A Sliver
Yahoo Finance showed a market value near $198 million in late September. The company now reports 145,991,661 common shares outstanding. At the 49 cents Yahoo showed in early October, that is about $71.5 million. It rests on a thin slice of stock. At year end, only about 23.5 million shares sat outside the trusts and insiders, worth about $11.5 million at that price. Between late December and early May, FINRA’s weekly data shows the stock trading as few as 102 shares in a week and never more than about 49,000. GAMG’s own press release concedes that OTCQB approval guarantees no trading volume, liquidity, or capital.
Where The Shares Came From
In September 2025, GAMG handed 250,000,000 shares to the owners of DC Rental Portfolio Corp. in a reverse merger. At year end, that one deal equaled nearly three-quarters of the 339 million shares outstanding. The company had 83.7 million shares at the end of 2024 and 339 million a year later. In the second quarter of 2026 it issued the DC Rental owners another 100,000,000 shares, which pushed the count to 440 million by June 30. Then holders surrendered 295,001,197 shares for cancellation, and the count fell to 145,991,661 on September 16. The company’s auditor flagged the valuation of the DC Rental deal as a critical audit matter. The annual report carries an accumulated deficit of $39.9 million.
The Balance Sheet Is A Mortgage
GAMG ended 2025 with $10.2 million in assets, almost all of it real estate. Property is carried at $7.64 million, with $1.6 million in escrow holdbacks and $577,510 in construction. Against that sits $9,989,625 in mortgage debt. Equity at year end was $17,118. By March 31, 2026, it had fallen to a deficit of $358,743. Interest expense was $66,773 for all of 2025 and $345,471 for the first six months of 2026.
The company now says that annual report left out a property. Unit C-1 at 3628 Georgia Avenue in Washington was bought in August 2025 with a $250,000 loan that carries 25 percent interest. The loan matured February 8 unpaid, and a foreclosure sale was scheduled for July 16 before a third party agreed to buy the note. With that correction, year-end assets are $10.46 million and mortgage debt is $10.24 million.
GAMG is a penny stock. It trades over the counter at under 50 cents a share, not on any exchange, and fails the SEC’s exemptions for companies with real net assets or revenue. Its stockholders’ equity is a deficit of $1,555,409 and its restated revenue for the second quarter was $236,261. Brokers must warn buyers in writing before they can sell it.
The Company Said Its Own Numbers Could Not Be Relied On
On October 1, the same day GAMG announced its OTCQB approval and Horne’s appointment, it filed an amended quarterly report. The board said the second-quarter statements issued August 19 should no longer be relied upon, because the company had left acquired entities out. The restated six-month loss is $1,292,840, up from $465,837 as first reported. Cash is $187,933 against a working-capital deficit of $12,453,319. The company admits its controls were ineffective.
The amended report also shows how thin the margin is on the insurance that protects those officers. GAMG bound a $41,200 directors and officers liability policy on April 20, paid $7,200 down on June 12, more than seven weeks later, and financed the rest through FIRST Insurance Funding at $3,534.02 a month. On August 28 the lender issued a Notice of Intent to Cancel Insurance Coverage, with cancellation scheduled for September 11.
As of September 2 the balance was $24,838.14, of which $3,634.02 was past due, and a second $100 late charge had been assessed. GAMG says it made payments on July 31, August 5 and August 7, that the policy has never been cancelled, and that the account is current and in good standing.
The former Black Dome employee says that company’s health coverage was canceled retroactively while premiums kept coming out of paychecks, and that Horne kept the insurer’s refund. GAMG says it caught up. Black Dome’s employees say nobody did.
The restated June 30 balance sheet is larger and worse. Total assets are $25,957,919 against total liabilities of $27,513,328, which leaves a stockholders’ deficit of $1,555,409. Notes payable of $12,355,184 are classified as current, including $9,855,184 in convertible debentures and $2,500,000 owed to Bogdan Capital. Mortgage debt has grown to $11,447,504.
The Revenue Is A Marketing Agency
Nearly all of the $95,309 in 2025 revenue came from Bella Rio Marketing Agency, which GAMG bought for 450,000 shares. The annual report says plainly that real estate produced no revenue in 2025. The review asks where the “over a thousand properties” are. The annual report names three DC holdings: a 31-unit walk-up, a 41-unit building under contract, and nine condominium units. In the first quarter of 2026, GAMG took in $93,201 and spent $470,072. The restated figures for the first six months show revenue of $359,514 against operating expenses of $1,652,354.
The Notes Can Become Stock
GAMG’s own filings show $10.48 million in notes that let the holders swap debt for stock at a discount to the market. Two of them, $3.5 million and $6 million, became convertible on October 6 and 8. Each converts at 90 percent of the stock’s 30-day average price. A third note, issued for a landscaping company GAMG bought with no cash, converts at 85 percent with no floor and no cap, starting six months after it was issued on August 31. Another $248,000 in notes to related parties becomes convertible six months after each issue date.
The lower the stock falls, the more shares each dollar of debt takes. GAMG now has 145,991,661 common shares outstanding. At the 49 cents the stock showed in early October, the two big notes convert into about 21.5 million shares, or 15 percent of the company. At 20 cents, about 52.8 million shares, or 36 percent. At 10 cents, about 105.6 million, or 72 percent. At 5 cents, about 211 million shares, more than exist today.
The filings give no limit on how far that can go. The amended quarterly report puts the company’s cash at $187,933 against a working-capital deficit of $12,453,319. Anyone who holds this stock is holding it behind a line of lenders who profit when the price drops.
The CEO Owes The Company $251,155
The restated June 30 balance sheet shows a note receivable from CEO Richard Balles of $251,155, up from $14,463 at year end. The note is unsecured and due on demand. Related parties owe the company another $844,606. Going the other way, the company owes Balles $98,302 for funds he paid over to it. The annual report says the company’s survival depends on continued financial support from its major shareholders.
The pay promised to GAMG’s officers dwarfs the money coming in. Employment agreements effective August 1, 2025, set annual pay of $300,000 for Chief Executive Officer Richard Balles, $275,000 for President John Murray, $225,000 for General Counsel Erik Carlson and $175,000 for Chief Marketing Officer Andrew Roiniotis, a combined $975,000, plus $305,000 in signing bonuses. That base pay alone is more than ten times the $95,309 GAMG took in during all of 2025.
For the first six months of 2026, restated revenue was $359,514 against operating expenses of $1,652,354, and half a year of those salaries is $487,500, more than every dollar the company brought in. Yet the annual report says no executive officer received cash compensation above $100,000 in 2025, and the filings do not say whether the promised pay was paid, accrued or deferred. That is the question for the officers.
On May 6, GAMG closed on the Memorial Real Estate Group, the former Memorial Hospital in Pawtucket, Rhode Island. The sellers were owed $6,455,000: a $6,000,000 one-year convertible note plus $455,000 in cash. The restated filing says GAMG disbursed no cash at closing. The $455,000 came from a loan Bogdan Capital made to the hospital’s own company. It paid prior advances, a tax settlement installment, legal invoices, and utilities. A second convertible note, for $3,500,000, went to a shareholder and related party for a 16.875 percent stake in the company’s Rhode Island subsidiary. The company booked the property at $10,992,835. The deal closed five weeks after a quarter that ended with $27,394 in the bank.
GAMG announced in March that Leonite Fund I, LP would provide a senior secured convertible note facility of up to $10 million. The filings show something smaller. On July 1, GAMG received $75,000 in net proceeds from the third installment. On September 9, it settled with Leonite for $310,353.39 over the note. Along the way it issued Leonite 20,000 commitment shares and a warrant for 50,000 shares at $1.50. GAMG also issued 500,000 shares to Alpine Securities Corporation for investment banking.
GAMG has not said what it is paying Steve Horne. The October 1 Form 8-K and the press release name him Chief Growth Officer, to lead opportunity origination and market expansion, and state no salary, shares, options, bonus or contract. The company reported the appointment under Item 8.01, Other Events, not Item 5.02, the item that covers compensation arrangements for certain officers. The release gives two effective dates, September 25 and October 1.
GAMG’s executive employment agreements, signed July 30, 2025, promise its four top officers about $975,000 a year in base pay and $305,000 in signing bonuses. The company took in $95,309 in revenue that year. Its income statement shows total operating expenses of $202,174 for all of 2025, and its quarterly report says it has never granted a stock option.
The Office And The Auditor
The Rockville headquarters is a virtual office at $150 a month. It is not a brick-and-mortar office. The operating office in Rockford, Illinois, rents for $150 a month from an entity controlled by GAMG’s President, John Murray. The company has six employees.
The audit was done by LAO Professionals of Lagos, Nigeria, which has audited GAMG since 2025. LAO registered with the Public Company Accounting Oversight Board on November 14, 2023, less than two years before it took on GAMG. Its report carries a going-concern warning.
Lagos, Nigeria. Really? A company that reported $95,309 in revenue and $10 million in mortgage debt for 2025, with 245 million shares in two trusts at year end, audited for about $20,000 by a firm more than half a world away.
The Pattern Labor Already Knows
This story is not new to the Field Service Technicians and Inspectors reading it. A company collapses and the invoices stay behind. A new letterhead appears, and the same executives show up in a new building with a new title. Labor is left holding the debt.
Black Dome’s employees now face the same lesson Inspectors learned from A2Z. Back pay is a claim in a line, not a check in the mail. The Department of Labor has found wages owed. An attorney general is next. A bankruptcy court is already involved on the A2Z side.
Foreclosurepedia will keep following the money from A2Z to Black Dome to wherever Horne lands next. Anyone with documents on Black Dome payroll, benefit deductions, or the A2Z acquisition debt can contact us. We will protect your name.
Black Dome’s staff are still waiting for their wages. Horne has a new job title.
