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Post by eastcoastswing on Oct 30, 2007 11:27:47 GMT -5
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Post by eastcoastswing on Oct 30, 2007 11:35:42 GMT -5
Why would this be posted now?
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Post by eastcoastswing on Oct 30, 2007 11:43:58 GMT -5
check out the alleged violations.
could cmkm have answered those without the discovery they have been provided thru the nevada court?
no wonder the sec has been so patient about this.
now those bs q and a sessions are starting to make a lil more sense eh?
Q) Post the Wells Notice for all shareholders to review.
New Management and legal counsel is currently working with the SEC. Additional time is being allowed for a full response because new management is still acquiring the information needed for such response.
Q) Has Bill or Kevin worked with the FBI, IRS, or DOJ regarding criminal activity?
The Company cannot comment about the information that it may be sharing with any law enforcement agencies. Any information or documentation possessed by the Company is available to regulators and law enforcement upon their request.
Q) Why hasn't Urban been criminally charged?
This question can only be answered by the law enforcement agencies that are currently investigating this matter. The Company stands ready, willing and able to assist any law enforcement agency with the results of new management’s ongoing investigation.
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The Company has not filed an official response to the Wells Notice but we are in contact with the SEC regarding the matter. Current management was not involved in the matters being alleged by the commission when the acts occurred. We are acquiring information through various sources so that we can adequately respond to the matters raised in the Wells Notice.
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A Wells Notice was issued to the company in February of 2007. The attorney representing the company at that time failed to timely respond to the notice. The allegations in the Wells Notice involve matters that occurred while Mr. West was not involved with company management. A full and complete response by the company requires information which we are seeking at this time through the Courts. I have discussed this matter with the SEC and I am confident the company can make a full and complete response in cooperation with the SEC.
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everything in its own time I say.
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Post by eastcoastswing on Oct 30, 2007 11:44:16 GMT -5
Section 5 -- Prohibitions Relating to Interstate Commerce and the Mails
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Sale or delivery after sale of unregistered securities
Unless a registration statement is in effect as to a security, it shall be unlawful for any person, directly or indirectly--
to make use of any means or instruments of transportation or communication in interstate commerce or of the mails to sell such security through the use or medium of any prospectus or otherwise; or
to carry or cause to be carried through the mails or in interstate commerce, by any means or instruments of transportation, any such security for the purpose of sale or for delivery after sale.
5(c) Necessity of filing registration statement
It shall be unlawful for any person, directly or indirectly, to make use of any means or instruments of transportation or communication in interstate commerce or of the mails to offer to sell or offer to buy through the use or medium of any prospectus or otherwise any security, unless a registration statement has been filed as to such security, or while the registration statement is the subject of a refusal order or stop order or (prior to the effective date of the registration statement) any public proceeding or examination under section 8.
Section 17 -- Fraudulent Interstate Transactions
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Use of interstate commerce for purpose of fraud or deceit
It shall be unlawful for any person in the offer or sale of any securities or any security-based swap agreement (as defined in section 206B of the Gramm-Leach-Bliley Act [15 USCS § 78c note]) by the use of any means or instruments of transportation or communication in interstate commerce or by use of the mails, directly or indirectly--
to employ any device, scheme, or artifice to defraud, or
to obtain money or property by means of any untrue statement of a material fact or any omission to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; or
to engage in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser
Section 10 -- Manipulative and Deceptive Devices
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It shall be unlawful for any person, directly or indirectly, by the use of any means or instrumentality of interstate commerce or of the mails, or of any facility of any national securities exchange--
(b) To use or employ, in connection with the purchase or sale of any security registered on a national securities exchange or any security not so registered, or any securities-based swap agreement (as defined in section 206B of the Gramm-Leach-Bliley Act), any manipulative or deceptive device or contrivance in contravention of such rules and regulations as the Commission may prescribe as necessary or appropriate in the public interest or for the protection of investors.
Rules promulgated under subsection (b) that prohibit fraud, manipulation, or insider trading (but not rules imposing or specifying reporting or recordkeeping requirements, procedures, or standards as prophylactic measures against fraud, manipulation, or insider trading), and judicial precedents decided under subsection (b) and rules promulgated thereunder that prohibit fraud, manipulation, or insider trading, shall apply to security-based swap agreements (as defined in section 206B of the Gramm-Leach-Bliley Act) to the same extent as they apply to securities. Judicial precedents decided under section 17(a) of the Securities Act of 1933 and sections 9, 15, 16, 20, and 21A of this title, and judicial precedents decided under applicable rules promulgated under such sections, shall apply to security-based swap agreements (as defined in section 206B of the Gramm-Leach-Bliley Act) to the same extent as they apply to securities.
Section 13 -- Periodical and Other Reports
(b) Form of report; books, records, and internal accounting; directives
(2)(a) Every issuer which has a class of securities registered pursuant to section 12 and every issuer which is required to file reports pursuant to section 15(d) shall--
make and keep books, records, and accounts, which, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the issuer;
10 (b) (5) therunder
Publication
The rate applicable under this subsection for each fiscal year is published pursuant to section 6(b)(10) of the Securities Act of 1933.
Reports by institutional investment managers
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Post by hundredtoone on Oct 30, 2007 13:00:18 GMT -5
"It shall be unlawful for any person, directly or indirectly, by the use of any means or instrumentality of interstate commerce or of the mails, or of any facility of any national securities exchange--
(b) To use or employ, in connection with the purchase or sale of any security registered on a national securities exchange or any security not so registered, or any securities-based swap agreement (as defined in section 206B of the Gramm-Leach-Bliley Act), any manipulative or deceptive device or contrivance in contravention of such rules and regulations as the Commission may prescribe as necessary or appropriate in the public interest or for the protection of investors."
"Section 5 -- Prohibitions Relating to Interstate Commerce and the Mails
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Sale or delivery after sale of unregistered securities
Unless a registration statement is in effect as to a security, it shall be unlawful for any person, directly or indirectly--
to make use of any means or instruments of transportation or communication in interstate commerce or of the mails to sell such security through the use or medium of any prospectus or otherwise; or
to carry or cause to be carried through the mails or in interstate commerce, by any means or instruments of transportation, any such security for the purpose of sale or for delivery after sale."
So it looks to me by these laws that the sale or transferance of any SHARES even CERTED SHARES after the revocation was/is ILLEGAL...including those sold and bought by DELI and any sold transfered by KW or APPROVED for TRANSFER...IMO...so KW and BF better watch what they do with others on the INSIDE of their operation IMO...Flying Moose(cmkxunofficial)
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