Robinson Held Agracat Stock

One of Agracat’s major stockholders, Melvin Robinson, was an associate of Jim Bolt and Golf Entertainment Inc. — the delisted Springdale penny stock. Robinson and Bolt filed a libel suit against the Northwest Arkansas Business Journal and related entities after it published two in-depth reports that detailed questionable activities by Golf. The reports were documented by public records.

Robinson has since dropped his suit, and Bolt’s claim is stayed because of a series of delays in his own personal bankruptcy. Bolt also made news in February with an appearance on the witness stand in the Oklahoma City bombing case. Bolt was cited for contempt of court on Feb. 18 by Oklahoma District Judge Steven Taylor after Bolt failed to appear that day to continue testifying at a pretrial hearing for Terry Nichols, the accused co-conspirator in the April 1995 bombing of the Alfred P. Murrah Federal Building in Oklahoma City.

In AFS-NWA’s motion for relief in Agracat’s bankruptcy, records show that Agracat stockholders as of November held 17,851,523 shares of common stock valued at $0.001 each ($17,851.52 total) and 317,166 shares of preferred stock although the value of the latter was unclear.

Records show Robinson, at least at the time of the November agreement, owned more than 5.4 million shares of Agract common stock or about $5,400 worth. That represented about 30.45 percent of the common stock outstanding, the same amount held by Jim Steele and Steve and Donna Combs.